Single-digit inflation expected at year's end says deputy minister

Radek Pietruszka/PAP

Inflation should fall to a single-digit figure by the end of the year, a deputy minister said on Tuesday.

Recently Poland has seen inflation hit highs not seen in decades.

On Thursday Poland's Central Statistical Office said consumer and service prices in December 2022 were 16.6 percent up year on year and 0.2 percent up month on month, against earlier forecasts of respectively 17.3 percent and 0.8 percent.

Artur Sobon, a deputy finance minister, said on television that inflation could continue to rise in the first months of 2023, but will then fall rapidly.

"All forecasts indicate that inflation will go down to a single-digit level by the end of the year," Sobon said.

He added that Poland's economy was in no danger of recession this year, with GDP growth predicted to be at least 1 percent.