Poland Inflation September 2016


Fall in annual consumer prices moderates in September

According to the Central Statistical Office (GUS), consumer prices recorded flat growth over the previous month in September, which followed the 0.2% decrease recorded in August. The result matched the flash estimate released on 30 September. The result largely reflected that falling prices for food, beverages and tobacco were offset by rising prices for transport as well as clothing and footwear.

In annual terms, consumer prices dropped 0.5% in September, which followed the 0.8% fall recorded in August. The result was unchanged from the preliminary estimate and marked the smallest fall in two years. Inflation remains well below the Central Bank’s target of 2.5% with a tolerance margin of plus/minus 1.0 percentage point. Meanwhile, the annual average variation in consumer prices was stable at minus 0.8% for the seventh consecutive month.

FocusEconomics Consensus Forecast panelists expect consumer prices to fall 0.6% in 2016, which is unchanged from last month’s projection. In 2017, the panel expects inflation to average 1.4%.

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Poland Inflation Chart

Poland Inflation September 2016 0

Note: Annual and monthly variation of consumer price index in %.
Source: Central Statistical Office (GUS).

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