Polish inflation to average 7.6% in 2022: central bank chief

Poland’s central bank expects that inflation in the country will average 7.6 percent next year, rising from 2021, its chief was quoted as saying on Thursday.

Adam Glapiński, governor of the National Bank of Poland (NBP).

Photo: PAP/Leszek Szymański

Price growth will mainly be driven by soaring energy costs, Adam Glapiński said, as cited by the businessinsider.com.pl website.

Poland's consumer price index (CPI) is likely to peak at 8.3 percent in June and then subside to 6.2 percent in December, Glapiński told the website in an interview.

"Energy will account for nearly half of the inflation in 2022," he said, adding that "the annual growth of energy prices may hit a record 27 percent in June."

The Polish central bank’s Monetary Policy Council this month raised key interest rates for the third time this year in a bid to tame inflation, which has hit levels not seen this century.

Inflation in Poland stood at 7.8 percent in year-on-year terms in November, the country’s Central Statistical Office (GUS) reported in a final estimate in the middle of this month.

(gs)

Source: PAP, businessinsider.com.pl