Prices of basic food products in Poland increased by 23.7% in August compared to the same period of the previous year. About reported In the Retail Price Index report by the UCE Research and Banking Institute.
Sunflower oil prices rose the most in August. The increase in prices for this product was 73.2%. The price of margarine increased by 58.4%, butter – 45%. In addition, flour (37.9%), rice (29.9%), dog food (48%) and cat (36%) prices increased. The price of meat increased by 26% and cheese by 39%.
The publication stated that the increase in core product prices was 17% in May, and the growth in June was already 18%. Prices rose further (18.6%) in July.
They also added that the increase in prices is related to the situation in Ukraine, difficulties in supply, increase in electricity prices and increase in the cost of imports.
On September 7, the Polish Monetary Policy Committee, an organ of the People’s Bank of Poland, raised The base interest rate in the country is up to 6.75%. The base interest rate in the republic was last at this level in 2002 and 2003.
Source: Gazeta
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