Poland: Inflation jumps in April
May 15, 2019
According to data released by the Central Statistical Office (GUS), consumer prices jumped 1.1% month-on-month in April, following March’s 0.3% rise. The strongest price increases were recorded for clothing and footwear, transport, and food non-alcoholic beverages—notably meat. Core consumer prices in March (the latest month for which data is available) rose 0.4% in month-on-month terms, above February’s 0.2% rise.
Inflation soared to 2.2% in April from 1.7% in March, marking the fastest increase but nonetheless remaining below the midpoint of the Central Bank’s target range of 2.5% plus or minus 1.0 percentage point. Higher prices for transport, restaurant and hotels, and food and non-alcoholic beverages were mainly behind the reading. For its part, core inflation in March increased to an over five-year high of 1.4% (February: 1.0%).
All told, annual average inflation inched was stable at March’s 1.6% in April.
Poland Inflation Forecast
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%.