Inflation in Poland
Poland - Inflation
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.
FocusEconomics Consensus Forecast panelists expect inflation to average 2.5% in 2020, which is unchanged from last month’s projection. For 2021, the panel sees inflation averaging 2.4%.
Poland - Inflation Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 0.0 | -0.9 | -0.6 | 2.0 | 1.6 |
Poland Inflation Chart
Source: Central Statistics Office.
Poland Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.07 | -0.30 % | Dec 31 |
| Exchange Rate | 3.79 | -0.53 % | Jan 01 |
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Economic News
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Poland: Inflation surges to over eight-year high at beginning of the year
February 14, 2020
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).
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Poland: Growth slumps to three-year low in Q4
February 14, 2020
The economy grew 3.1% year-on-year in the fourth quarter (Q3: +3.9% year-on-year), marking the weakest expansion since Q4 2016, according to a preliminary estimate released by the Statistical Institute (GUS) on 14 February.
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Poland: Central Bank holds its ground in February
February 6, 2020
The National Bank of Poland (NBP) kept the reference rate unchanged at a record low of 1.50% at its 4–5 February monetary policy meeting, as had been widely expected.
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Poland: Growth eases in 2019 but remains resilient nonetheless
February 6, 2020
The economy grew 4.0% in 2019, according to a second estimate released by Poland’s Statistical Institute (GUS).
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Poland: Manufacturing sector starts 2020 on a sour note
February 3, 2020
The manufacturing Purchasing Managers’ Index (PMI), released by IHS Markit, dipped to 47.4 in January from December’s 48.0.
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