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Agriculture Minister plays down NBP claim food prices will increase
The Agriculture Minister Wojciech Olejniczak stated that the National Bank of Poland's (NBP) forecast that the prices of food will increase by 9% yoy is exaggerated.
He added that he does not expect to see food prices go up in the next few months. " In August and September the prices of pork, poultry, fruit and vegetables will not increase. I believe that the 9% figure is an abstraction and is out of the question." According to the central bank's analysts, annual food price inflation increased from 3.3% in March to 9.1% in July which was caused mainly by the increase of the prices of meat, sugar and edible oil. However, Olejniczak believes that food prices will not increase in the long term. He added that as this year has been very good for agriculture it guarantees the stabilization of food prices for the next 12-24 months. (Parkiet, p. 9) E.B.
(Source: http://www.wbj.pl/?command=article&id=23780) |
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