Inflation in Poland

Poland Inflation | Economic News & Forecasts

Poland - Inflation

Inflation jumps to over eight-year high in February

Consumer prices surged 0.7% over the previous month in February, following January’s 0.9% jump, according to a flash release by the Poland’s Statistical Institute (GUS). The reading largely reflected soaring prices for food and non-alcoholic beverages and for utilities, more than offsetting lower prices for transport and clothing and footwear. 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 climbed from 4.3% in January to 4.7% in February, the fastest increase since November 2011, and thus moved further 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 January’s 2.6% to 2.9% in the second month of 2020, the highest reading since March 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  

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Poland Inflation Chart


Poland Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Central Statistics Office.

Poland Facts

Value Change Date
Bond Yield2.07-0.30 %Dec 31
Exchange Rate3.79-0.53 %Jan 01

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