The prices and inflation in June at the highest level in 25 years
According to the report by Central Statistical Office, Consumer inflation in June amounted to 15.6%. Compared to the previous month, the prices of consumer goods and services increased by 1.5 %.
“Prices of consumer goods and services according to a quick estimate, in June 2022, compared to the same month last year, increased by 15.6 % and compared to the previous month increased by 1.5 % (price index 101.5)”, the release states.
The prices of food and non-alcoholic beverages increased by 14.1%, and energy carriers – increased by 35.3%. Fuels for private means of transport increased by 46.7%.
In monthly terms, the prices of food and non-alcoholic beverages increased by 0.7%, energy carriers increased by 3%, while fuels for private means of transport increased by 9.4%, the report also said. On an annual basis, the market consensus was 15.5 percent.
– In my opinion, inflation will increase a bit. I think the inflation peak will be around 18 percent – former Prime Minister stated in an interview with TVN24. According to him, the peak of inflation will take place after the summer holidays. – I think September – he added.
Belka also pointed to two events that will follow. The first is the inevitable economic slowdown, and the second is the slowdown in commodity prices. – The growth potential of oil and gas prices is slowly being depleted. Gas and crude oil will remain very expensive, but they will not become more expensive – believes Marek Belka.
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