Inflation breaks another barrier in Poland
22:06
Consumer inflation in Poland amounted to 11 percent on an annual basis according to the final data of the Central Statistical Office (GUS) for March 2022. This is the highest price increase in almost 22 years.
According to the GUS, inflation was higher in March than in February, when it amounted to 8.5 percent.
According to the preliminary reading from two weeks ago, the CPI index was 10.9 percent and it was more than economists expected. At that time, experts underestimated the pace of fuel price growth. The sharp spike in oil prices following the outbreak of the war in Ukraine led to sharp increases in gasoline and diesel fuel prices at gas stations in the first days of March. Diesel retail prices exceeded PLN 8 per liter for the first time in history.
The latest data means that inflation in March is the highest since July 2000. At that time, the CPI index was at 11.6 percent.
According to most experts, double-digit inflation in March is just an introduction. The inflationary peak is not expected until the middle of the year, although today hardly anyone makes any concrete forecasts of the pace of price growth.
