Poles fear rise of inflation in near future - study

Polish consumers believe inflation will rise in the coming months and are prepared to rein in spending, a survey carried out by the Economic Development Institute of the Warsaw School of Economics has found.

According to the poll, 52.7 percent of surveyed households expect prices to increase, and 33.1 percent estimate that they will remain at the current level.

"Therefore, nearly 86 percent of those polled expect inflation to remain (at the same level) or accelerate," the Economic Development Institute of the Warsaw School wrote in a report.

Analysts note that consumers plan to limit their spending on durable goods in the coming year.

The percentage of households planning to increase spending fell in the 4th quarter of 2020 to 28.8 percent from 37.7 percent in the previous quarter and 45.1 percent year-on-year.

The percentage of households expecting to reduce purchasing increased to 24.5 percent in Q4 from 19.1 percent in Q3 and from 9.5 percent a year ago.