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According to the Central Bureau of Statistics, the prices of consumer goods and services in August 2022 increased by 16.1 percent compared to the same month last year. (With the increase in prices of goods – by 17.5% and services – by 11.8%). Compared to the previous month, prices of goods and services increased by 0.8 percent. (Including goods – by 0.8% and services – by 0.7%).
Prices are rising very quickly Food and beverages (17.5% YoY), housing and energy bills (27.4%) and transportation – 19.5%.
A quick estimate of the Central Statistics Office published at the end of August reported exactly the same data – 16.1 percent. Inflation x/y and 0.8 m/m. experts Then they were surprised to read this He noted that food and energy prices rose unexpectedly, but that core inflation (excluding both) also could be too high.
Expert: Record inflation is not a surprise, it’s a sad reality
“Oh, inflation didn’t slow in August (the consensus didn’t settle,” mBank analysts commented warmly after the data was released.”
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See also: Inflation may accelerate further. We are dealing with an ‘economic nightmare’
– This result is not a surprise, but a sad fact. Although the peaks are still ahead – commented Marius Zielonka, Lewitan expert.
After publishing more detailed data on Thursday, mBank analysts pointed to an increase in sugar intake. “The famous sugar is up 41.3% monthly in the last month” – they noted and posted a graph showing the components of our inflation:
In turn, Kamil Sobolevsky, chief economist of the Polish employers, on this occasion criticizes the government for The latest decision to significantly increase the minimum wage in 2023. It threatens the Turkish version (record inflation is raging in Turkey – editor’s note). “With inflation of 16.1 percent, the government raises the minimum wage by 19.6 percent. Will we have Ankara in Warsaw?” – He asks on Twitter.
Experts have no doubt that in the current situation, inflation and economic slowdown These two topics will remain a concern not only of macroeconomists and investors, but of all Poles in general for a long time to come.
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