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Inflation in April 2022. The Central Statistical Office publishes the latest data on prices

Inflation in April 2022. The Central Statistical Office publishes the latest data on prices

Unfortunately, the disastrous information from the Central Statistical Office regarding the price increase was confirmed. two weeks ago Officials estimated inflation in April at 12.3 percent. It is even a little worse because Friday’s report corrected the previous calculations to 12.4 percent. We can officially talk about the highest price increase in 24 years. Another barrier is the 14.2 percent level. This is the maximum inflation of 1998.

distance Inflation jumped in March from 8.5 to 11 percent Some may count on a slight slowdown in price increases. None of these things. Prices are gaining momentum, which is also seen in the monthly price hike statistics. On average, they increased by 2 percent. At this pace, prices usually rise on a monthly basis.

The rest of the article is below the video

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What is the most expensive?

The latest GUS data isn’t surprising in terms of the value of the inflation itself (preliminary calculations have already been published), but Friday’s report sheds new light on what’s more costly. We have learned a detailed list of specific goods and services.

On average, goods become more expensive – an average of 13.1 percent. every year. At the same time, the price lists for services increased by 10%.

In 12 months, fuel prices are up 27.8 percent. They were defeated minimally by the increase in energy prices (27.3%). It’s not that bad with food, but it’s a 13.2 percent increase. So it affects everyone.

Eye-catching ones include Big increase in meat prices. Within a year, poultry increased by almost half, and only in the last month – by 14.4 percent. Beef prices jumped in one month by 6.4 percent, and in a year by about 30 percent. In the case of pork, the proportion is 12.1 percent and 15.6 percent, respectively.

Bitter sugar reading. In one month, its price increased by 8.8 percent, and compared to April 2021 – exactly 35 percent. About 25 percent. Year after year, you have to pay more for flour, bread, and butter.

Prices of rice (13.6%), fish (13.3%), milk (12.8%), cheese (12.5%), eggs (14.4%) are rising at a double-digit rate year on year.) and vegetables (12%).

Compared to other products, pasta (9.1%) and fruits (6.6%) are not that bad.

Inflation in Poland. When is the peak?

In inflation data The effects of higher interest rates are still invisible. Economists also point out that the worst is still ahead.

“We expect it The peak of inflation will be in June or JulyWhen the indicator reaches a level of about 13 percent. The reason we expect lower inflation in the coming months is fuel prices. The point is that the inflation-enhancing effect of last year’s high primary fuel prices will soon begin to wane. Even if fuel prices remain at the current high level or rise slightly, inflation will continue to fall due to low annual growth rates, estimates Kamel Pasteur, an economist at PKO BP.

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However, the Polish Economic Institute (PIE) warns that soaring food prices and higher energy and fuel prices will continue for the rest of the year. appreciate it Inflation throughout 2022 will average 11.6%.

“In 2023 we will see a moderate decrease – the indicator will reach 8%. Europe will continue to deal with the consequences of the war in Ukrainethe so-called second-round effects, i.e. the increase in consumer prices associated with higher costs, predicts Jacob Rybacky, a PIE analyst.

He notes that Russian aggression has brought grain trade from Ukraine to a halt, raising the prices of wheat, oils and meat. in addition to Europe faces drought again, which will lead to higher prices for fruits and vegetables.

“Under the current circumstances, it cannot be ruled out that it will be after the holidays Food prices will rise by about 20 percent. Compared to last year “- warns.

Damien Somsky, journalist at money.pl

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