Inflation at its highest in 10 years
22:21
Inflation in July 2021 in Poland amounted to 5.0 percent y/y, the Central Statistical Office (GUS) reported. This means that the increase in prices of goods and services has accelerated to a level that has not been seen in Poland for over ten years.
Compared to the previous month, prices increased by 0.4 percent.
Earlier, in a quick estimate, GUS reported that inflation in July 2021 in Poland amounted to 5.0 percent y/y.
In July this year the higher prices of transport (3.1 percent) and housing (0.5 percent) had the greatest impact on the total consumer price index and increased it by 0.29 percentage points and 0.13 percentage points, respectively Lower prices of food (by 0.4 percent), as well as clothing and footwear (by 2.4 percent), reduced this indicator by 0.11 percentage points and 0.10 percentage points, respectively.
Compared to the same month of the previous year, higher prices in terms of transport (by 18.5 percent) and housing (by 5.6 percent) increased this indicator by 1.60 and 1.39 percentage points, respectively. Lower prices of clothes and footwear (by 0.6 percent) lowered this indicator by 0.02 percentage points.
PKO BP analysts said that the rise in core inflation in July was largely due to pandemic factors.
"Prices of foreign trips increased by 10.7 percent y/y vs. minus 6.5 percent y/y in June. Domestic tourism recorded an increase in prices by 8.0 percent y/y vs. 6.0 percent y/y in June. In the HoReCa sector, the inflation accelerated to 6.1 percent y/y from 5.7 percent in June," we read in a comment on Twitter.
(TVN24)
