Inflation slightly down in coming months, experts say

The coming months should bring a slight inflation fall, with inflation expected at 14.5 percent at the close of Q4 of this year, an economic expert said commenting CPI results published by the Central Statistical Office (GUS) on Wednesday.

GUS wrote that August inflation stood at 16.1 percent y/y and increased 0.8 percent month on month.

Jakub Rybacki from the Polish Economic Institute (PIE), a state-owned think tank, said inflation in August was much higher than the earlier predicted 15.4 percent, but should fall below the 10 percent mark in June of next year. He also said the inflation drop expected in the next months will be mainly due to a slower rise in fuel and service prices.

Rybacki added that rising electricity costs will continue to raise commodity and heating costs.

Meantime, analysts from the ING bank forecast that inflation will be growing over the coming months. According to them, the beginning of 2023 will bring inflation up to 18-19 percent, when new energy and natural gas tariffs will come into force.