Today, the Central Statistical Office of Poland (GUS) reported that consumer goods and services prices increased year-on-year by 4.9% in September, and compared to the previous month, they increased by 0.1%. Today’s reading confirms GUS’s earlier rapid estimate.
The inflation in September was commented on by Przemysław Barankiewicz, Country Manager at Finax, Vice President of CFA Society Poland, member of the supervisory board of Pekao Mortgage Bank SA:
Inflation has returned and will continue to grow. Although last year we got used to its double-digit level, almost 5% in September is still a lot. It is unlikely to return to the central bank’s target, which is, a maximum of 3.5%, neither this year nor probably next year. What does this mean for the so-called “average Kowalski”? We must invest wisely. At this rate of price increase, our funds will lose a quarter of their value in 6 years, and half in 14 years. Investing involves risk, but it offers great chances not only to maintain, but also to increase the real value of our money. So, what to invest in during inflation? Think about commodities, treasury bonds indexed with inflation or the still little known OIPE, a pension product, developed in EU offices and designed to beat price increases in the long term. Money should work, not lie in the bank. Of course, you first need to save them, but wages in Poland are growing even faster than prices. Statistically, despite the rise in inflation, we are still doing better.
Source: https://managerplus.pl/inflacja-we-wrzesniu-2024-r-na-poziomie-49-73879
