inflation in April.  The Central Bureau of Statistics released new data

According to rapid estimates, the prices of consumer goods and services in April 2023 increased by 14.7% year on year, and compared to the previous month, prices increased by 0.7%. The Central Bureau of Statistics (GUS) announced on Friday. – There is definitely something to please, – commented in Polsat News Piotr Bujak, chief economist at PKO BP.

Poland’s inflation rate fell for the third consecutive month on an annual basis. However, prices of consumer goods and services, according to rapid estimates provided by the Central Statistical Bureau, are still rising month by month. In April, Poles paid an average of 0.7 percent for the same products. more than march.

Economists had expected prices to rise by 14.8 percent. Taking into account April last year, while it was on a monthly basis to reach 0.8 per cent.

Commenting on Friday’s data from the Central Statistical Office, the Polish Economic Institute estimates that the process of slowing inflation will be prolonged. According to experts, in May inflation will decrease by another percentage point, while the growth rate of food prices will decrease.

“Inflation fell again in April due to food and energy prices. We expect that the coming months will see a continuation of this trend. However, rapid price growth remains very common – which is why core inflation remains at a high level” – Resident Economists from the Polish Economic Institute (PIE ).

See: First Holy Communion. Mother complains of inflation. She can’t afford to throw a party for her daughter

Institute analysts expect inflation to remain in the double digits for most of the year, approaching 9% at the end of the year. “s

The decline in food and energy prices will be significant, but services prices will continue to rise at a rate of more than 10%. Therefore, core inflation at the end of 2023 will be higher than the headline CPI.

Compared to April last year, food prices increased by 19.7 percent, while energy prices increased by 23.5 percent. Poles paid less only for fuel, with prices falling by a nominal 0.1 percent.

Experts in GUS Estimates. Do the latest data lead to optimism?

On the topic of low inflation, as prices continue to rise, experts commented on Polsat News: Chief Economist of PKO BP Piotr Bujak and Economist Adam Ruciński, Chairman of the Board of Directors of BTFG Consulting.

It is already known that the zero value-added tax on foodstuffs will be maintained “for sure until the end of this year,” announced Deputy Finance Minister Artur Sopoy.

However, according to inflation forecasts by BNP Paribas analysts, “domestic prices have fully adapted to the cost shock associated with energy and more expensive materials,” which means that there is no longer the so-called. Inflationary pressure, so another price hike is not expected – at least as far as rational conditions are concerned.

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