Growing food and energy prices fuel inflation

2008-03-04 00:00

publikacja
2008-03-04 00:00

According the National Bank of Poland, food prices will rise further and in 2008 their growth is likely to amount to 6.1%, while in 2007 food went up by 4.7%. Experts stress that due to the slowdown of the global economy the growth of food prices might be lower than anticipated. "Growing demand for food might also be downgraded by growing costs of energy, transport and services," said Krystyna Świetlik of the Institute for Agriculture Economics and Nutrition Economy (IERiGŻ). According to Jakub Borowski, chief economist of Invest Bank, CPI growth in April might reach 5% and thus another interest rates increase by 0.25% is expected in March. (Rzeczpospolita, p. B1) M.M.

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Growing food and energy prices fuel inflation

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