Poland: Inflation accelerates in February
March 20, 2019
According to data released by the Central Statistical Office (GUS), consumer prices jumped 0.4% month-on-month in February, contrasting January’s 0.2% decline. In February, the GUS updated the weighting system used in the compilations of the consumer price index. The strongest price increases were recorded for food and non-alcoholic beverages—notably vegetables—and communication. Core consumer prices in February rose 0.2% in month-on-month terms, above January’s flat reading.
Inflation rose to 1.2% in February from 0.7% in January, remaining below the midpoint of the Central Bank’s target range of 2.5% plus or minus 1.0 percentage point. For its part, core inflation in February increased to an almost five-year high of 1.0% (January: 0.8%).
All told, annual average inflation inched down to 1.5% from January’s 1.6%.
Poland Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 2.1% in 2019, which is down 0.2 percentage points from last month’s projection. For 2020, the panel sees inflation averaging 2.5%.