Kotecki - RPP: Polish inflation will not fall below 10% y / y by the end of 2024

by   CIJ News iDesk III
2022-09-12   09:02

Consumer inflation will not fall below 10% y / y by the end of 2024, says Ludwik Kotecki, member of the Monetary Policy Council (Rady Polityki Pieniężnej - RPP).

"We are entering a very strong economic slowdown, so this environment for inflation growth is limited. [...] However, unfortunately we will not go down with inflation below 10%, and this is very high inflation. [...] I am afraid that we will not go down by the end of 2024," Kotecki said in an interview with TVN24.

Consumer inflation in August amounted to 16.1% y / y (according to preliminary data).

During the Thursday press conference, the president of the National Bank of Poland (NBP) and the chairman of the RPP, Adam Glapiński, said that in his opinion inflation could be single-digit next year and drop to 5-6% y / y, if the government anti-inflation shield is maintained and implemented " not so terrible "increases in regulated prices.

Source: TVN24 and ISBnews