Poland Inflation May 2019

Poland

Poland: Inflation at over seven-year high in June

June 14, 2019

Consumer prices rose 0.3% month-on-month in June, following May’s softer 0.2% increase, according to data released by the Poland’s Statistical Institute (GUS). The strongest price increases were recorded for recreation and culture, communication, and transport. Core consumer prices in May (the latest month for which data is available) declined 0.3% in month-on-month terms, contrasting April’s 1.0% jump.

Inflation edged up to 2.6% in June from 2.4% in May, marking the fastest increase since November 2012 and moving above the midpoint of the Central Bank’s target range of 2.5% plus or minus 1.0 percentage point. Price rises were particularly strong for food and services. For its part, core inflation in May remained stable at April’s 1.7%.

All told, annual average inflation remained stable at May’s 1.7% in June.

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%.


Author: Massimo Bassetti, Economist

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Poland Inflation Chart


Poland Inflation June 2019 0

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


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