17:23 16 July 2024
Restoration of VAT on food increased costs in June
In June, the full impact of reinstating VAT rates on food became apparent, according to Paweł Szałamacha, a member of the NBP board. He noted that after a delay due to promotional periods and acceptance by retail chains, food prices started to gradually rise. Consumer goods and services prices increased by 2.6% y/y in June, with a 0.1% rise from the previous month. Specifically, food and non-alcoholic beverages saw a 2.5% y/y increase and a 0.7% m/m increase, compared to 1.6% and 0.3% respectively previously.
