It may take up to 3 years for inflation target to achieve

Most experts expect an inflation peak in the middle of this year. The President of the National Bank of Poland, Adam Glapiński, has already indicated several times that it will most likely fall in June this year. According to the Polish Economic Institute, during the summer holidays the price increase will amount to approx. 12.5–13 percent. According to some experts, the galloping price increase may not be stopped by interest rate increases, because it is caused by a whole range of factors, including government policies and spending types 13 and 14, retirement pension, the Anti-Inflation Shield and tax cuts introduced by the Polish Deal. Therefore, in the fight against inflation, it will also be necessary to reduce social policy and state budget expenditure. According to the Ministry of Finance, we will not achieve the level of 3.5 percent until 2025.

"We have to rationalize products that wear out and which – through our fault or without our fault – become more expensive, for example, we have to look at various types of energy resources differently," Dr. Andrzej Faliński, vice president of the Economic Dialogue Forum and former director general of the Polish Trade and Distribution Organization, judged.

(Newseria)