Poland: Inflation jumps in March
April 17, 2019
According to data released by the Central Statistical Office (GUS), consumer prices rose 0.3% month-on-month in March, following February’s 0.4% jump. The strongest price increases were recorded for clothing and footwear and food non-alcoholic beverages—notably meat. Core consumer prices in March rose 0.4% in month-on-month terms, above February’s 0.2% rise.
Inflation soared to 1.7% in March from 1.2% in February, but remained 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 March increased to an over five-year high of 1.4% (February: 1.0%).
All told, annual average inflation inched up to 1.6% in March from February’s 1.5%.
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%.