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.”