On Saturday, Poland’s finance minister Magdalena Rzeczkowska said that inflation in Poland could rise slightly in September. Rzeczkowska also asserted that she believed inflation would reach a peak this year. It is to be noted that Poland is grappling with price growth. Inflation has risen to its highest level in a quarter of a century, combined with a slowdown.

According to media reports, it is said that this could tip the largest economy in the European Union’s eastern wing into recession. The finance minister Magdalena Rzeczkowska also said that in September, inflation could grow to around 16.4 per cent. As per the statistics office data, inflation was 16.1 per cent In August.

However, she also hoped that the highest point of inflation would be this year, and at the end of next year, inflation should start to decline. Rzeczkowska also stated that Poland would not enter a recession. However, it would certainly witness an economic slowdown.

Divided into 16 voivodeships (administrative units), Poland is the fifth-most populous member state of the European Union, with a population of over 38 million. In August, data on retail sales and construction output confirmed that the economy is slowing. The economy is on course for a 3 per cent YoY growth in 3Q22.