In March, consumer prices added 0.9% over the previous month, well above the 0.2% increase observed in February. According to the Central Statistics Office (GUS), the monthly reading was the result of substantial price increases for food (+1.7% month-on-month), clothing and footwear (+3.1% mom) as well as transport (+1.6% mom). As a result, annual headline inflation jumped to 4.3% in March, well above both the 3.6% inflation rate registered in February and market expectations of a more moderate 3.9%. Inflation is currently at its highest level since September 2008, far exceeding the Central Bank's target of 2.5% with a tolerance margin of 1.0 percentage point. Annual average inflation increased a notch from 2.7% in February to 2.8% in March. Core inflation, which excludes items sensitive to supply shocks like food and energy, rose from 1.6% in January to 1.7% in February. According to the Inflation Report from March 2011, the Central Bank estimates that inflation will end the year at 3.2%, before easing to 2.8% in 2012.
Inflation surges in March to the highest level in more than two years
April 13, 2011
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Poland Economic News
October 25, 2016
The manufacturing sector business climate index decreased from 3.3 points in September to 1.0 point in October, according to the Central Statistical Office’s Business Tendency Survey (GUS-BTS).
October 25, 2016
In September, retail sales rose 4.8% over the same month last year, which was below August’s over two-year high of a 5.6% increase.
October 19, 2016
In September, industrial production expanded 3.2% over the same month last year, which was notably below the 7.5% expansion recorded in August.
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.