Hovering meals and housing-related prices have piled stress on cash-strapped households
Annual inflation in Poland accelerated in February to the very best degree since 1996, knowledge launched by the nationwide statistics service GUS confirmed on Wednesday.
Client costs rose 18.four% year-on-year in February, up from the 16.6% recorded within the earlier month.
Economists are predicting that the most recent surge will mark the height of the present cycle, however Polish customers say they’re struggling to pay family payments and purchase fundamental groceries, with value development at its steepest in additional than 1 / 4 of a century.
The figures present that the February studying surpassed the earlier excessive of 17.9% recorded in October 2022, with meals costs, transport and power prices rising quickest final month.
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Costs of meals and non-alcoholic drinks noticed probably the most important annual improve in February of as much as 27%, in comparison with 26.6% in January. Housing-related charges jumped 22.7% whereas the price of heating gas, water and central heating elevated, the report stated.
The Polish financial system slowed in 2022 amid hovering inflation and a plunge in shopper spending introduced on by the battle in neighboring Ukraine and the impression of sanctions on Russia.
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