In October, consumer prices rose 0.4% over the previous month, which was above the 0.1% increase observed in September. According to the Central Statistical Office (GUS), the increase was mainly influenced by higher prices for clothing and footwear as well as for food. Despite the monthly increase, annual headline inflation fell from 3.8% in September to 3.4% in October, which came in line with market expectations. In fact, the reading represented the lowest inflation level observed in almost two years. As a result, inflation remains within the Central Bank's target of 2.5% plus/minus 1.0 percentage point. Meanwhile, the core consumer price index, which excludes food and energy prices, was unchanged over the previous month, driving annual core inflation down to 1.9% in September, the latest month for which data are available.
Inflation falls to lowest level in almost two years
November 14, 2012
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Poland Inflation Chart
Note: Annual and monthly variation of consumer price index in %.
Source: Central Statistical Office (GUS).
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.