Poland Inflation May 2019

Poland

Poland: Inflation inches up in May

June 5, 2019

According to data released by the Central Statistical Office (GUS), consumer prices ticked up 0.2% month-on-month in May, following April’s 1.1% jump. The strongest price increases were recorded for food and non-alcoholic beverages, and fuels for personal transport equipment. Core consumer prices in April (the latest month for which data is available) rose 1.0% in month-on-month terms, above March’s 0.4% rise.

Inflation inched up to 2.3% in May from 2.2% in April, marking the fastest increase in one-and-a-half years but nonetheless remaining below 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 April increased to an over six-year high of 1.7% (March: 1.4%).

All told, annual average inflation inched up to 1.7% in May from April’s 1.6%.

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 May 2019

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


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