Poland: Inflation falls within target in July
Latest reading: Inflation fell to 3.1% in July from June’s 4.1%, coming in within the Central Bank’s 1.5–3.5% target range for the first time in over a year. The downtick was due to a sharp drop in price pressures for energy, as last year’s partial phasing out of energy price subsidies fell out of the base of comparison. Moreover, price pressures for food softened slightly from the prior month. Meanwhile, July marked a softer fall in transport costs compared to June.
Annual average inflation fell to 4.5% in July from 4.6% in June.
Finally, consumer prices increased 0.30% month on month in July after having risen 0.10% in June.