Inflation is falling...but is it really?

According to new, preliminary data from the Central Statistical Office (GUS), inflation in our country is falling, but only seemingly. In April (3.4 percent) it was lower [...] https://www.pinterest.com/pin/1085437947660215829/

According to new preliminary data from the Central Statistical Office, inflation in our country is falling, but only seemingly. In April (3.4 percent), it was lower than in March (4.6 percent). However, this is a result of a drop in fuel prices by about 20 percent. Food prices went up by 7.5 percent. Inflation is falling... seemingly When looking at inflation data, it is always worth delving into the details. Apparently, the inflation rate declined, as in March it amounted to 4.6 per cent. However, such a relatively low inflation rate - which is again within the NBP inflation target - was determined last month by a decrease in the price of fuel for private means of transport.  On the other hand, energy carriers rose by 5.2 per cent, while food prices increased by as much as 7.5 per cent. Why are we emphasizing these data? Well, each of us can do without fuel (especially now, in the era of lockdown), while the vision of forced starvation does not sound so appealing, right? Of course, we're still far from having to deny ourselves food, but food price spikes should worry us. - The April changes in prices were most painfully felt by families that are not motorized and spend a relatively large part of their income on groceries, Polsat News noted. The phenomenon of rising food prices was already visible in March, when the inflation for this type of products amounted to 8%. The most expensive products were then: pork (by 27%), fruit (by 20%) and cold meat (by 15%). Poland against the EU background All this will start to provoke Poles to look for tools that will help them save the value of their savings. Especially that, compared to the European Union, inflation in Poland is quite high. Out of the entire European Union, it was Poland and Hungary that saw the highest increase in prices in March - by 3.9%. Generally, in the entire European Union, prices are growing the most strongly in Central and Eastern Europe. Poland and Hungary are followed by the Czech Republic (3.6 percent). In France and Germany, inflation is less than 1 percent: Spain, Italy, Portugal and Cyprus. Tags