Data on inflation in Poland - we broke another record in August

Inflation in August, according to the preliminary estimate published by the Central Statistical Office, amounted to 5,4%. y / y, which is much more than analysts expected (forecasts at 5,2%). This is the same as in the USA (5,4% y / y) and almost twice as much as in the euro area (3% y / y).

Inflation record

The last time we had such high inflation in June 2001. The reading shows that we are still dealing with a strong increase in the prices of energy (an increase of 6,1% y / y) and food (an increase of 3,9% y / y). Inflation is not expected to fall in the coming months. This puts pressure on you The Monetary Policy Council in terms of interest rate increases. And the next meeting of the Council is on September 8. Simultaneously with inflation we got to know the reading CBA for the second quarter - it amounted to a record 11,1 percent. y / y Consumption increased by 13,3 percent. y / y, an increase in investments by 5% is also important. y / y

Such high inflation means that annual bank deposits with an average market interest rate, completed in August 2021 (assumed in September 2020) brought a real record loss of over 5%.

About the author

Pawel Majtkowski - analyst eToro on the Polish market, which shares its weekly commentary on the latest stock market information. Paweł is a recognized expert on financial markets with extensive experience as an analyst in financial institutions. He is also one of the most cited experts in the field of economy and financial markets in Poland. He graduated from law studies at the University of Warsaw. He is also the author of many publications in the field of investing, personal finance and economy.