Poland Inflation October 2016


Poland: Consumer prices record smallest annual drop in over two years in October

October 31, 2016

According to a preliminary estimate released by the Central Statistical Office (GUS) on 31 October, consumer prices in Poland rose 0.5% over the previous month in October, which followed the flat growth recorded in September.

In annual terms, consumer prices dropped 0.2% in October, which was a less pronounced decline than the 0.5% fall recorded in September. October’s figure marked the smallest decrease since July 2014. 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 variation in consumer prices was stable at September’s minus 0.8%. The GUS will publish more detailed data concerning consumer prices on 14 November.

FocusEconomics Consensus Forecast panelists expect consumer prices to fall 0.7% in 2016, which is down 0.1 percentage points from last month’s projection. In 2017, the panel expects inflation to average 1.3%, which is also down 0.1 percentage points from last month’s estimate.

Author: Angela Bouzanis, Senior Economist

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Poland Inflation Chart

Poland Inflation October 2016

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

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