Poland Inflation December 2016


Poland: Inflation rises to almost three-year high in December

December 30, 2016

According to a preliminary estimate released by the Central Statistical Office (GUS) on 30 December, consumer prices rose 0.5% over the previous month in December, which was above the 0.1% increase in November. Although a breakdown of price pressures is not yet available, it is likely that the recent depreciation of the zloty is contributing to rising prices in Poland.

Inflation came in at 0.8% in December, the highest rate since October 2013 (November: 0.0%). The recent depreciation of the zloty likely accelerated price pressures in December. Despite the rise in inflation, the figure still remains well below the Central Bank’s target of 2.5% with a tolerance margin of plus/minus 1.0 percentage point. Meanwhile, annual average variation in consumer prices inched up to minus 0.6% from November’s minus 0.7%. The GUS will publish more detailed data concerning consumer prices on 15 January.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.3% in 2017, which is unchanged from last month’s projection. In 2018, the panel expects inflation to average 1.8%.

Author: Angela Bouzanis, Senior Economist

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Poland Inflation Chart

Poland Inflation December 2016

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

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