It's 15.6%, and it will be even higher: experts on inflation
11:01
Economists have no illusions: prices are rising at a record pace, but the worst is yet to come.
"The dynamics of inflation will continue to assume double-digit values for many more months, and at the end of the year, it could be around 13 percent," Bartosz Sawicki, an analyst at Cinkciarz.pl, assessed.
Inflation in June was 15.6 percent, the highest reading in more than 25 years – the last time we saw such a rapid rise in prices was in February 1997. Food prices are already more than 14 percent higher y/y.
"The peak in food prices is not expected until the end of the current year. This year's harvest and agri-food commodities fertilized with expensive fertilizers will hit the market then. We will also feel the impact of limited supplies from across the eastern border more strongly. We assume that closer to the end of the year, food prices could rise by almost 20 percent y/y," economists at Bank Pekao SA said.
"Although the inflation rate may decline slightly in the summer months (July and August), firstly, it seems unlikely that it will go below 15 percent y/y, and secondly, in the autumn, we will see it accelerate again, behind which will be primarily the prices of food and energy carriers," Monika Kurtek, chief economist at Bank Pocztowy, added.
