Inflation to cool in second half of 2022: Polish finance minister

Poland’s finance minister has said that price rises will slow down in the third and fourth quarter of this year. 

Magdalena Rzeczkowska.

PAP/Adam Warżawa

Magdalena Rzeczkowska made the prediction in an interview with Polish Radio on Tuesday, the public broadcaster’s IAR news agency reported.

The minister said that “inflation will slow down in the third and fourth quarter, beginning in the summer.”

She added: “next year, inflation will fall.”

Rzeczkowska said that inflation was “a global problem,” caused mainly by “rising prices of food and energy sources, in the wake of the Kremlin’s gas blackmail and invasion of Ukraine.”

Min. M. #Rzeczkowska: Inflacja ma przyczyny głównie zewnętrzne. Prawie wszystkie kraje świata mierzą się z tym problemem i to na poziomie niespotykanym od dekad. W sytuacji spodziewanego spowolnienia gosp. musimy szukać równowagi – bez cięć w programach społecznych.#SygnałyDnia pic.twitter.com/sP27xkJoEh

— Ministerstwo Finansów (@MF_GOV_PL) June 7, 2022

'No spending cuts despite inflation'

Despite inflation, "the government is not planning any spending cuts,” the minister also stated.

“Funding for social policies won’t change,” she added.

Inflation in Poland stood at 13.9 percent in year-on-year terms in May, the country’s Central Statistical Office (GUS) said in a flash estimate last week.

Tuesday is day 104 of the Russian invasion of Ukraine.

(pm)

Source: IAR, bankier.pl