Poland Inflation February 2017

Poland

Poland: Inflation jumps again in February

March 14, 2017

Consumer prices rose 0.3% over the previous month in February, which came in a notch below the 0.4% increase in January. According to the Central Statistical Office (GUS), February’s increase was broad-based, with prices climbing across the majority of the categories and only costs of clothing and footwear decreasing significantly. Notable was a sharp increase in food prices, with a bad harvest driving vegetable prices up in many Eastern European countries.

Inflation jumped to 2.2% in February, the highest rate in more than four years (January: 1.7%) and 0.1 percentage points above market expectations. With February’s rise, the inflation rate moved even closer to the Central Bank’s target of 2.5% and now sits comfortably within its tolerance margin of plus/minus 1.0 percentage point.

Meanwhile, annual average variation in consumer prices came in at minus 0.1% in February, above January’s minus 0.4%. Core consumer prices inched up 0.1% over the previous month. Core inflation was 0.3% in February, slightly higher than January’s 0.2% reading.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.8% in 2017, which is up 0.2 percentage points from last month’s projection. In 2018, the panel expects inflation to average 2.0%.


Author: Marlène Rump, Senior Data Analyst

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Poland Inflation Chart


Poland Inflation February 2017

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


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