Poland Inflation August 2020

Poland

Poland: Inflation drops to three-month low in August

September 1, 2020

Consumer prices dropped 0.10% over the previous month in August, a softer fall than the 0.20% decline recorded in July, according to a preliminary reading. August’s print was mainly driven by falling prices for food and non-alcoholic beverages.

Inflation came in at 2.9% in August, easing slightly from July’s 3.0%, marking the lowest reading in three months. Thus, inflation crept closer to the midpoint of the Central Bank’s target range of 2.5% plus or minus 1.0 percentage point. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 3.4% in August (July: 3.3%).

FocusEconomics panelists project inflation to average 3.2% in 2020, which is up 0.2 percentage points from last month’s forecast, and 2.4% in 2021.


Author:, Economist

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Poland Inflation August 20 20

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


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