Average annual inflation high next year, central bank head says

Adam Glapinski wrote that inflation was expected to fall next year, but would still remain at a high level, with a bigger drop expected in 2024. Radek Pietruszka/PAP

Next year's average annual inflation will remain high, Poland's central bank governor wrote in a Friday article for the Super Express tabloid’s website.

Adam Glapinski wrote that inflation was expected to fall next year, but would still remain at a high level, with a bigger drop expected in 2024.

He added that the inflation increase recorded in many economies had global sources, mainly rising energy and natural gas costs, therefore bringing it down would not be possible without global-scale undertakings by central banks.

The tightening monetary policy introduced by central banks will slow economic growth and as a result bring down inflation, Glapinski wrote.