Inflation has just reached its peak and will decline by the end of the year - PFR fund head

Pawel Borys, head of Poland's state-run PFR fund said that inflation has just reached its peak and will be falling towards the end of the year. “In the first quarter of 2023, we may have a small jump in inflation again, because there will be a statistical effect, and a strong decline in inflation will take place from the second quarter of next year,” he said.

He noted that inflation is supported by high wage growth and rising fuel prices that translate to the higher prices of products. Annual inflation in Poland reached 15.6% in July, the highest figure in over 25 years, according to Statistics Poland.

(PAP)