Inflation at a Record 13.9%. When Can We Expect It to Fall?

It is expensive, and it will probably become even more expensive. According to Statistics Poland data, consumer inflation (CPI) in May reached 13.9% and was higher than economists had forecast. The prices of goods and services continue to rise. Therefore, another interest-rate hike is likely to await us soon.

Statistics Poland:

According to the flash estimate, the prices of consumer goods and services in May 2022 increased by 13.9% compared with the same month of the previous year (price index: 113.9), and increased by 1.7% compared with the previous month (price index: 101.7).

What will happen next? When will inflation stop rising?

Economists believe that inflation will continue to rise for several more months. Deputy Prime Minister and Minister of Agriculture Henryk Kowalczyk holds a similar view. In an interview with Radio Zet , he stated:

– Inflation will probably peak in the autumn of this year. That is my assessment. I look at it from the perspective of agriculture and food prices, and they are rising very sharply. Food prices are rising on global markets.

The minister also added that if the war in Ukraine does not end, a grain crisis will occur, prices on global markets will rise, and this will provide another inflationary impulse.

Can we therefore expect inflation to fall in the autumn months?