Inflation rises in September, due to an increase in food-stuff say GUS and

The Main Statistic Office (GUS) and the National Bank of Poland (NBP) yesterday announced that inflation amounted to 0.9% in September, as c ompared to 0.7% in August. "The prices of food and non-alcoholic beverages were the main reason for the increase in inflation. A rise of 1.5% was recorded in this sector," says Jacek Wiśniewski, an analyst at Pekao SA. Although wages in the enterprise sector increased by 2.2% year-on-year in September, joint employment fell in the same period of time by 3.1%. This Autum will not be recompensed even by significant increases in household credits, which grew by zł. 2.6 billion and company credits, which recorded an increase of zł. 0.9 billion. "Inflation will rise over the next year, which will be a result of price increases and EU tax requirements. In September 2004, it should stand at a level 2.2%," says Jacek Kotłowski of BRE Bank. (Puls Biznesu, p. 6) A.K.