Poland skyline at golden hour

Poland Inflation January 2020

Poland: Inflation surges to over eight-year high at beginning of the year

Consumer prices surged 0.9% over the previous month in January, following December’s 0.8% jump, according to a flash release by the Poland’s Statistical Institute (GUS). The reading largely reflected soaring dwelling prices and higher prices for food and non-alcoholic beverages and tobacco, more than offsetting lower prices for transport. Core consumer prices in December (the latest month for which data is available) spiked 0.6% in month-on-month terms, up from November’s flat reading.

Inflation took off from 3.4% in December to 4.4% in January, the fastest increase since December 2011, and thus moved above the upper bound of the Central Bank’s target range of 2.5% plus or minus 1.0 percentage point. For its part, core inflation came in at 3.1% in December, above November’s 2.6%, printing the strongest increase in over eight years.

All told, annual average inflation rose from December’s 2.3% to 2.6% in the first month of 2020, the highest reading since April 2013.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest