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October 5, 2022
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Inflation in Poland is rising. It is above the NBP target –

Inflation in Poland is rising again. In January, prices in our country were on average 2.7 percent. higher than the year before. At least such data is included in the latest GUS report. This is more than economists predicted. Moreover, it means breaking the NBP’s inflation target again.

Inflation in Poland is rising

What’s up? From the new year, the prices of a large part of goods and services have increased significantly. However, this is the effect of politicians’ actions – the entry into force of, for example, the sugar tax, which made us pay more for sweetened drinks. However, electricity rates also increased.

The Central Statistical Office has summarized the preliminary inflation data so far. They show that in January prices increased by an average of 2.7 percent. compared to January last year. However, inflation was higher than in December. Then it was “only” 2.4 percent.

“The January result also exceeded the average forecasts of economists, who expected an increase of 2.4 percent. per year. At the same time, a fairly wide range of economists’ forecasts indicated that they had problems with determining the impact of non-standard factors, such as the sugar tax, the tax on monkeys, the power charge or the effect of the pandemic on the rate of price changes “ – adds the portal money.pl.

As a consolation, it is worth adding that in January 2020 inflation was 4.4%. Every year.

How to analyze inflation?

On this occasion, however, it is worth recalling once again that the result of 2.7% refers to the average price increase. This does not mean that each product or service has increased by exactly this amount. In practice, this means that each of us should count our own inflation, because we buy, for example, various food products. Therefore, it is crucial to analyze the price inflation of particular categories of goods or services. However, we do not know such details yet. The CSO will present them in a few days.

“Inflation in Poland 2.7 percent. This is much above the market consensus and our forecast. Details are sparse, but it looks like it’s not food but core inflation, which has returned to 4.2%. (counting from the old basket) “ – mBank economists note.

– There are several reasons: the increase from 1 January this year. regulated prices (heat energy), the power levy, the sugar levy and the so-called fees from monkeys, or a minimum wage increase of 7.8 percent. – adds Monika Kurtek, chief economist of Bank Pocztowy.

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