In June, consumer prices fell 0.4% over the previous month, contrasting the 0.6% price rise observed in May. The drop mainly reflected lower prices for food (-1.3% month-on-month), caused by weaker demand for vegetables amid the panic surrounding the E.coli bacteria strain detected in Germany. This one-off exogenous shock helped to curb inflationary pressures, as the headline annual figure fell from a decade-high 5.0% in May to 4.2% in June. Nevertheless, inflation still exceeds the Central Bank's target of 2.5% with a tolerance margin of 1.0 percentage point. Core inflation, which excludes food and energy prices, edged up from 2.1% in April to 2.4% in May, the latest month for which data are available. In its latest Inflation Report from July, the Central Bank updated its forecasts and now estimates that inflation will end the year at 4.0% (previous forecast: 3.2%), before moderating to 2.7% in 2012 (previous forecast: 2.8%).
Inflation falls on lower food prices
July 13, 2011
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Poland Economic News
October 12, 2016
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.
October 5, 2016
As anticipated by market analysts, the National Bank of Poland (NBP) decided to keep the reference rate at the record low of 1.50% at its 4–5 October monetary policy meeting.
October 3, 2016
The Manufacturing Purchasing Managers’ Index (PMI) rose from August’s 51.5 to a six-month high of 52.2 in September, according to IHS Markit.
September 30, 2016
According to a preliminary estimate released by the Central Statistical Office (GUS) on 30 September, consumer prices recorded flat growth over the previous month in September, which followed the 0.2% fall recorded in August. In annual terms, consumer prices dropped 0.5% in September, which was a less pronounced decline than the 0.8% fall recorded in August.
September 30, 2016
The manufacturing sector business climate index decreased from 4.8 points in August to 3.3 points in September, according to the Central Statistical Office’s Business Tendency Survey (GUS-BTS).