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MPC's Litwiniuk Warns Of Potential Rebound In Inflation Driven By Fuel Price Normalisation

NBP

NBP's Przemyslaw Litwiniuk told TVN24 that petrol prices will likely increase by 10% in November and a further 9% in December after the upcoming parliamentary elections as the development currently observed in fuel markets "could be described as non-market".

  • Litwiniuk warned that the expected fuel price hikes will result in a 0.5pp increase in CPI inflation in November and another 0.5pp increase in December. He stressed that these estimates are based on the latest available data.
  • The MPC member criticised Governor Adam Glapinski for his latest press conference and interview for "Sieci", calling on the central bank chief to defend the NBP's reputation as a credible, independent institution.
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