Poland Inflation June 2019


Poland: Inflation at over six-year high in June

June 28, 2019

Consumer prices rose 0.3% month-on-month in June, following May’s 0.2% uptick, according to data released by the Poland’s Statistical Institute (GUS). Price increases were recorded for food and non-alcoholic beverages, and fuels for personal transport equipment, while prices for electricity, gas and other fuels dropped. 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 increased to 2.6% in June from 2.4% in May, marking the fastest increase since November 2012 and inching above 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 May remained unchanged at April’s over six-year high of 1.7%.

All told, annual average inflation remained unchanged 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

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

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