Inflation in Poland rose further in August. As the country’s statistical authority announced in Warsaw on Thursday, consumer prices rose 16.1 percent compared to the same month last year. In July, annual inflation was 15.6 percent.
Compared to the previous month, consumer prices rose by 0.8 percent in August. The costs of housing and energy sources in particular have risen: consumers had to spend 27.4 percent more on these than in August last year.
VAT suspended on groceries
Groceries and non-alcoholic beverages rose 17.5 percent over the same period. To mitigate the impact on consumers, Poland has suspended VAT on food since February 1 and lowered the tax rate on fuel.
Analysts at PKO BP, Poland’s largest bank in Warsaw, predict inflation will remain around 16 percent through the end of the year. They expect inflation to rise above 17 percent by early 2023.
Source: Krone
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