High inflation “eats” the savings of the Poles. Economic forecasts for next year do not suggest a quick improvement, which makes the Poles pessimistic. We have learned the results of the latest survey, which provide food for thought.
On Wednesday, November 30, we will find out the latest data on inflation in Poland, which will be presented by the Central Statistical Office. The October reading showed that growth in prices for goods and services reached an annual rate of 17.9 percent, the highest since December 1997. However, neither independent experts, nor banking analysts, nor the National Bank of Poland itself expect inflation to decline in the coming months. An official report from the central bank projects that a return to the 2.5 percent inflation target will occur in 2020. will only happen in 2025.
High inflation will stay with us for a long time
Some experts even point out that inflation will reach 20% before it starts to decline. The most optimistic forecasts suggest that due to the high base since the beginning of 2022, lower inflation rates should only be expected at the end of the first quarter of 2023. However, this does not mean that product prices will be lower.
A lower inflation rate will mean not that it is cheaper, but that it is more expensive, but the dynamics of price growth is somewhat slower. High prices will be felt for many more months. Some Poles are well aware of this, as can be seen from the results of a survey conducted for Rzeczpospolita by SW Research.
Poles think they will become poorer
The studio asked Poles if they think their economic situation will change in 2023. The results of the study show that inflation, which has been on the rise for several months, and thus the much higher cost of living, has already affected consumer sentiment. As much as 55.4 percent. respondents believe that their financial situation will worsen next year. 23 percent say it will remain unchanged, 12.2 percent. no opinion, and only 9.4 percent. believes that 2023 will be more favorable for them financially.
– Women (61 percent) more than men (50 percent) agree with the opinion that the financial situation of the family will worsen. Fear of a deterioration in the economic situation of the family in the future increases with the age of the respondents (42% - respondents under 24 years old, 66% - respondents over 50 years old). Almost two out of three people (63%) with primary vocational education believe that their family’s financial situation will worsen in the coming year. Six out of ten respondents with an income above PLN 5,000 net and the same percentage of people living in cities with a population of 100,000 to 199,000 people. of residents fear that the economic situation in their own family will worsen in 2023 - more often than other respondents - This was announced to Rzeczpospolita by Piotr Zimolzak, vice-president of the research agency SW Research.
Source: Wprost
