Polish inflation could rise in September, finance minister says

1 min read
The Palace of Culture is seen from the construction site of new skyscraper in Warsaw

WARSAW (Reuters) – Inflation in Poland could rise slightly in September, the country’s finance minister said on Saturday, adding that she still believed it would reach a peak this year.

Poland is grappling with price growth that has surged to its highest level in a quarter of a century combined with a slowdown some economists say could tip the largest economy in the European Union’s eastern wing into recession.

“We forecast that in September there could be growth in inflation to around 16.4%,” Magdalena Rzeczkowska told private broadcaster RMF FM.

In August, inflation was 16.1%, according to statistics office data.

“I still hope that the highest point of inflation will be this year … at the end of next year inflation should start to fall,” she said.

Rzeczkowska also said that Poland would not enter a recession, but that it would certainly see an economic slowdown.

(Reporting by Alan Charlish; Editing by David Clarke and Jane Merriman)