Glapinski on inflation: The plateau is over, the downward movement has begun

President of the National Bank of Poland Adam Glapinski presented an assessment of the current economic situation in Poland. - Inflation is falling very fast. The plateau ended, the downward movement began. Inflation is head over heels, said President Adam Glapinski.

- In April, inflation fell to the lowest level for the year, which we predicted for several months and spoke contrary to many critics, - added the president of the National Bank of Poland.

Core inflation is high everywhere

– Core inflation is still very high in many countries. There is nothing special about ours. With amazement and growing frustration, I see this argument being abused. This is not very much compared to other countries, there is nothing special about it, said President Adam Glapinski. In most Central European countries, as in Poland, it is about 12 percent. - added.

“This is because the price shocks were so big that entrepreneurs included them in the cost price, and this resulted in the need for higher wages,” he said.President of the National Bank of Poland. - It’s changing. Entrepreneurs can no longer freely raise prices, because, among other things, thanks to our actions, demand has decreased - he explained.

Core inflation will fall

– In the coming months and quarters, we expect core inflation to decline. We are at the top now. It all comes gradually, but it’s very good. The same is happening in other countries. Some argue that you need to raise interest rates just enough to shake the ground. They do not pay attention to the fact that this will end with massive bankruptcies and rising unemployment. Some also want interest rates to be real, that is, higher than inflation. You don’t have to be an economist to know how this will end. said the president of the National Bank of Poland.