Inflation pressure in Poland is rising: the future inflation index climbed to 89.1 points

The BIEC Future Inflation Indicator (WPI) rose by 1.4 points in October, to 89.1 points from 87.7 in September. The institute's analysts note that inflationary pressure has been intensifying for three months in a row.

The main cause of the rise was a marked jump in the IMF commodity price index: in September alone it rose by more than 8%, and by almost 33% over the year. Oil became much more expensive, up 16% over the month and almost 52% over the year. Food commodities also became more expensive, mainly grain, oils and sugar: the FAO food price index rose 1.5% over the month and almost 6% over the year.

Consumers' inflation expectations also rose. According to BIEC, the share of managers planning price increases over those planning cuts reached 9 points, against about 2 a year earlier. Representatives of the refining industry and food producers most often mention planned price increases.