Poland's average annual CPI likely to start falling in H2

"If we look at the average annual inflation in relation to 2021, it will increase (in 2022 - PAP). But I believe that, if we look at the CPI growth rate, we will see that it will start gradually going down from the second half of the year," Paweł Borys said during an online debate organised by the Onet website on Monday. Leszek Szymański/PAP

Poland's average annual growth of prices of consumer goods and services (Consumer Price Index, CPI) is expected to stand at around 7 percent in 2022, according to the head of the Polish Development Fund (PFR).

"If we look at the average annual inflation in relation to 2021, it will increase (in 2022 - PAP). But I believe that, if we look at the CPI growth rate, we will see that it will start gradually going down from the second half of the year," Paweł Borys said during an online debate organised by the Onet website on Monday.

"And in 2023, the average annual CPI will likely drop below 5 percent," Borys added.

Last week, the Central Statistical Office (GUS) reported in a flash estimate that prices of consumer goods and services increased by 8.6 percent year on year and by 0.9 percent month on month in December 2021.

December's CPI figure was the highest inflation reading in Poland in more than two decades.