12:21 16 January 2022
Post by: WBJ

Inflation in Poland driven by food and fuel prices

Inflation in Poland driven by food and fuel prices
Source: Photo by Marco Verch Professional Photographer on Flickr

Inflation in December was 8.6 percent counting y/y, the Central Statistical Office (GUS) informed on Friday. The reading is in line with the so-called quick respect.

On Friday, the GUS also published the average annual inflation rate in 2021. It was 5.1 percent, compared to 3.4 percent in 2020.

Higher inflation is mainly the result of rising food prices, but fuels are the most responsible for the level of the index per year.

8.6 percent price increase per year is an average value. In individual categories of goods or services, it may be higher or lower.

The prices of food and non-alcoholic beverages increased by 8.6 percent on average per year, the use of a flat by 11.2 percent, and fuel for private means of transport by 32.9 percent. The prices of the most expensive were: LPG (52.3 percent), fuel (39.8 percent), diesel oil (32 percent), gasoline (30.5 percent).

"The peak of inflation is still ahead of us, but it is certainly closer than further,” the mBank's economists assessed.



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