• Minister - food price rise no more than 5 percent
  • 18.02.2011

Poland’s agricultural minister Marek Sawicki said Friday that he does not expect food prices to rise by more than five percent in 2011, dismissing some economists’ protections of a 10 percent rise.

 

“I think price hikes will be no more than five percent,” he said.

 

“The market will not stand [a 10 percent] rise,” Minister Sawicki said, though, as he warned earlier this week, rising food prices compared to income levels in Poland assure that the poorest will be hardest hit.

 

Poland’s central statistical office posted data this week showing that consumer goods and services rose in price by 3.8 percent compared to 12 months ago and 1.2 percent compared to December 2010.

 

The U.N. Food and Agriculture Organization says global food prices surged in January to record levels. Wheat prices may keep rising until the summer with prices to stay high or go higher in the next six months. (pg)