Poland Inflation

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Poland: Decrease in annual consumer prices softens in October

November 18, 2015

In October, consumer prices rose 0.1% over the previous month, which contrasted September’s 0.3% decline and marked the highest reading in six months. The reading matched market expectations. According to the Central Statistical Office (GUS), October’s increase mainly reflected that higher prices for clothing and footwear more than offset a decrease in prices of transport.

Consumer prices dropped 0.7% annually in October, which was above the 0.8% drop tallied in September. As a result, inflation remains below the Central Bank’s target of 2.5% with a tolerance margin of plus/minus 1.0 percentage point. Meanwhile, the core consumer price index, which excludes food and energy prices, rose 0.2% in October compared to the previous month (September: -0.2% month-on-month). Core inflation inched up from September’s 0.2% to 0.3% in October. Finally, core average inflation remained stable at September’s 0.4%.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.7% in 2015, which is down 0.1 percentage points from last month’s projection. In 2016, the panel expects inflation to accelerate to 1.5%, which is unchanged from last month’s projection.


Author:, Economist

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Poland Inflation Chart


Poland Inflation October 2015

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


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