16:07 16 September 2023
PIE: Inflation continues to decline
On Friday, the Central Statistical Office (GUS) published data on inflation in August. Prices of consumer goods and services in the past month increased by 10.1 percent on an annual basis and remained at the same level compared to the previous month. According to Jakub Rybacki, an economist from the Polish Economic Institute (PIE) commenting on the GUS data, the decline in inflation is mainly due to weaker food price growth. He pointed out that the pace of food price increases dropped from 15.6 percent to 12.7 percent.
“In September, inflation is expected to be around 9 percent. The decline will be mainly due to government measures regarding energy prices. Core inflation should drop below 10 percent, although we will likely see another high increase in education costs," Jakub Rybacki said.
