Poland Inflation September 2022

Poland

Poland: Inflation comes in at highest level since February 1997 in September

September 30, 2022

Inflation came in at 17.2% in September, up from August’s 16.1%. August's figure marked the highest inflation rate since February 1997. Meanwhile, the trend pointed up, with annual average inflation coming in at 11.9% in September (August: 11.0%). Lastly, core inflation rose to 9.9% in August (the latest month for which data is available), from July’s 9.3%.

Consumer prices rose 1.60% in September over the previous month, accelerating from the 0.80% increase recorded in August.

Commenting on the outlook, economists at ING, stated:

“Inflation is expected to be persistent, with a sustained decline to single-digit levels not occurring until 2025. In light of such challenges, there is still room to tighten monetary policy and declarations of readiness to end the cycle have proven premature.”

FocusEconomics panelists project inflation to average 7.4% in 2022, which is up 0.5 percentage points from last month’s forecast, and 4.9% in 2023.


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