Producer Prices in Poland
Poland - Producer Prices
Inflation ticks up in November
Consumer prices inched up 0.1% over the previous month in November, following October’s 0.2% uptick, according to provisional data released by the Poland’s Statistical Institute (GUS). Higher prices for food and non-alcoholic beverages, utilities and fuels drove the increase. Core consumer prices in October (the latest month for which data is available) rose 0.3% in month-on-month terms, up from September’s 0.2% rise.
Inflation ticked up to 2.6% in November from 2.5% in October, and thus moved marginally above the midpoint 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 2.4% in October, matching September’s reading, which had marked the highest reading since April 2012.
All told, annual average inflation inched up from October’s 2.0% to 2.1% in November, the highest print since June 2013.
Looking ahead, Rafal Benecki and Jakub Rybacki, Poland chief economist and economist at ING respectively, stated:
“We expect CPI to peak in 1Q around 3.5% YoY. Core inflation should remain a major contributor, fuelled by demand pressures and an increase in labour and energy costs for enterprises. […] Inflation should return to the central bank target (2.5% YoY) in the second half of 2020 due to a lower contribution from food prices. The growth structure should rely solely on core inflation. Such a situation suggests there is a risk of overshooting the inflation target's upper band (CPI above 3.5% YoY) in the event of external or domestic supply shocks (e.g. weaker crops, disruptions on the global oil markets)”.
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 2.6%.
Poland - Producer Prices Data
|Inflation (PPI, annual variation in %)||-0.9||-2.6||-0.8||3.3||-|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||2.08||-0.30 %||Nov 21|
|Exchange Rate||3.89||-0.53 %||Nov 21|
|Stock Market||57,619||-1.13 %||Nov 21|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
December 2, 2019
The manufacturing Purchasing Managers’ Index (PMI), released by IHS Markit, rose to 46.7 in November from October’s 45.6, which had marked the worst reading since June 2009.
November 29, 2019
Consumer prices inched up 0.1% over the previous month in November, following October’s 0.2% uptick, according to provisional data released by the Poland’s Statistical Institute (GUS).
November 29, 2019
The economy grew 3.9% year-on-year in unadjusted terms in the third quarter of this year, according to a second estimate released by Poland’s Statistical Institute (GUS) on 29 November.
November 27, 2019
Nominal retail sales increased 5.4% year-on-year in October, slightly above September’s 5.3% rise.
November 26, 2019
Manufacturing-sector business confidence fell again in November, according to the business tendency indicator released by the Central Statistical Office (GUS).