Inflation in Poland. Another huge price increase in October

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This is another month when Poles can experience a large increase in the prices of purchased products and services. In September, prices increased by 5.8 percent. and then it was the highest inflation in 20 years. According to Business Insider Polska, The last time a higher increase in prices happened in Poland in May 2001.

The increase in inflation can be seen, among others when it comes to increasing fuel prices. Fuels for private means of transport are more expensive compared to last year by as much as 33.9 percent. More than in October 2020, we will also pay for food and non-alcoholic drinks. This, in turn, is an increase of 4.9 percent.

As much as 10.2 percent. the prices of energy carriers are also higher – mainly gas increases.

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Economists surveyed by PAP Biznes estimated that the prices of goods and services in October increased by 6.4% year-on-year, and that month-on-month increased by 0.6%.

On the other hand, mBank economists predict that the price increase in October is just the beginning and at the beginning of 2022 we can expect the inflation rate to be between 7 and 8 percent. Experts refer to such an increase as “almost certain”.

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