Poland Inflation January 2016


Poland: Annual consumer prices drop at faster pace in January

February 12, 2016

In January, consumer prices fell 0.4% over the previous month, which was down from the 0.2% drop recorded in December and marked a larger decrease than the 0.2% fall expected by the market. According to the Central Statistical Office (GUS), January’s result mainly reflected lower prices for clothing and footwear as well as for housing and healthcare.

In annual terms, consumer prices fell 0.7% in January, which was below the 0.5% drop recorded in December. As a result, inflation remains well below the Central Bank’s target of 2.5% with a tolerance margin of plus/minus 1.0 percentage point. Meanwhile, annual average inflation was stable at the minus 0.9% recorded in December.

The core consumer price index, which excludes food and energy prices, recorded zero growth compared to the previous month in December, the last month for which data are available (November: -0.1% month-on-month). Core inflation remained stable at November’s 0.2%.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.8% in 2016, which is unchanged from last month’s projection. In 2017, the panel expects inflation to accelerate to 1.2%.

Author:, Head of Data Solutions

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Poland Inflation Chart

Poland Inflation January 2016

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

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