Poland Inflation October 2019


Poland: Inflation eases further in October

November 14, 2019

Consumer prices increased 0.2% over the previous month in October, following September’s flat print, according to data released by the Poland’s Statistical Institute (GUS). The reading largely reflected higher prices for garments and footwear more than offsetting lower prices for fuels and motor cars. Core consumer prices in September (the latest month for which data is available) rose 0.2% in month-on-month terms, matching August’s uptick.

Inflation dipped to 2.5% in October from 2.6% in September, marking the slowest increase in five months, and thus landed on the midpoint of the Central Bank’s target range of 2.5% plus or minus 1.0 percentage point. For its part, core inflation came in at 2.4% in September, up from August’s 2.2% and the highest reading since April 2012.

All told, annual average inflation inched up from September’s 1.9% to 2.0%, the fastest pace in over six years.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.5% in 2020, which is unchanged from last month’s projection. For 2021, the panel sees inflation averaging 2.4%.

Author: Massimo Bassetti, Economist

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Poland Inflation Chart

Poland Inflation October 2019

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

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