Poland CPI rises to 17.9% in October
Source：wnp.pl
From：Taiwan Trade Center, Warsaw
Update Time：2022/11/10
The Central Statistical Office (GUS) announced Monday in its quick estimate that inflation in October amounted to 17.9 percent year-on-year. In monthly terms, prices increased by 1.8%, the highest since April this year.
The thesis about the inflationary plateau is becoming harder and harder to defend, and the local peak of inflation is still ahead of us, experts predicted, adding that the actual inflation may be close to 35-40 percent every year.
"It is mainly driven by the soaring energy prices," said Mariusz Zielonka, an economic expert of the Lewiatan Confederation, noting that they had increased by 41 percent during the year.
It is more and more difficult to defend the thesis about the inflationary plateau, and the local peak of inflation is still ahead of us, in February 2023 inflation will exceed 20%. - ING bank experts assessed.
The process of spilling over the entire economy with price increases is still ongoing
"The CPI growth was close to our forecast and in line with the consensus. As we had expected, October brought an increase in fuel prices at gas stations. This was accompanied by a further increase in the prices of energy carriers," according to ING bank analysts.
Market reports suggest that the peak in coal prices is behind us, but we are still observing an increase in food prices. Compared to September, food and non-alcoholic beverages increased by 2.7%, and in annual terms, prices increased in this category it already reaches nearly 22 percent, they noted.
The process of spreading price increases over the entire economy continues, following a strong impulse from energy and transport costs. "We estimate that core inflation excluding food and energy prices increased in October to around 11.2% year-on-year from the 10.7% set in September," they said, adding that the dynamics of price processes remained high.
Source: https://www.wnp.pl/finanse/szczyt-inflacji-dopiero-przed-nami-szykujmy-sie-na-40-procent,639785.html?utm_source=newsletter&utm_medium=email&utm_campaign=wnp