Poland Inflation August 2016


Fall in annual consumer prices moderates slightly in August

According to the Central Statistical Office (GUS), consumer prices dropped 0.2% over the previous month in August, which followed the 0.3% decrease recorded in July. The result matched the flash estimate released on 31 August. Consumer prices continued to fall due to declines in prices for food and non-alcoholic beverages as well as for transportation and clothing and footwear.

In annual terms, consumer prices dropped 0.8% in August, which followed the 0.9% fall recorded in July. The result was unchanged from the preliminary estimate. 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 sixth consecutive month.

FocusEconomics Consensus Forecast panelists expect consumer prices to fall 0.6% in 2016, which is down 0.1 percentage points from last month’s projection. In 2017, the panel expects inflation to average 1.3%.

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Poland Inflation Chart

Poland Inflation August 2016

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

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