Poland's interest rates should increase above market expectations owing to the latest macroeconomic data, Adam Glapiński, the governor of the National Bank of Poland, has told the Bloomberg agency.
Inflation in Poland will fall between 6.1 and 8.4 percent this year and 3.4 and 5.6 percent in 2023, economists interviewed by Polands central bank (NBP) have estimated.
The Consumer Price Index (CPI) in Poland will reach 8.8 percent in January, as inflation should start to decrease in February, the Polish Economic Institute (PIE), government think-tank, has forecast.
Tax cuts included in a government programme designed to reduce the harm caused by rising inflation could be extended beyond the planned six months, the Polish government's spokesperson said on Wednesday.
A second anti-inflation shield, presented by the government on Tuesday, will temporarily lower inflation by up to 3.4 percentage points, according to a central bank deputy governor.
Donald Tusk, the leader of Poland’s main opposition party, has sharply criticised the government and has blamed it for increased inflation.
Mateusz Morawiecki, the prime minister, on Tuesday announced the introduction of a second anti-inflation shield which is a package of tax cuts that are aimed to trim consumer price inflation by up to 1.5 percentage points.
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).
Details on a second package of tax reductions to soften the blow of inflation in Poland should be released next week, Mateusz Morawiecki, the prime minister, has said.
Inflation in Poland will peak at more than 8 percent in the middle of this year after a slight fall in the first quarter of 2022, Adam Glapiński, the governor of National Bank of Poland (NBP), has said.