Polish inflation at 16.1% in March: stats office

Inflation in Poland stood at 16.1 percent in year-on-year terms in March, the country’s statistics office said in an estimate on Friday.

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The figure was 0.1 percentage point lower than a flash estimate released by the state-run Statistics Poland (GUS) agency at the end of last month.

Consumer #prices in #Poland in March 2023 increased by 16.1% YoY (price index 116.1). Compared to the previous month they increased by 1.1% (price index 101.1).https://t.co/yRzLySbVDF#StatisticsPoland #statistics #CPI #PriceIndices #PriceIndex #inflation pic.twitter.com/1rHW8x135B

— Statistics Poland (@StatPoland) April 14, 2023

In February, the prices of consumer goods and services in Poland were 18.4 percent higher than in the same month a year earlier, according to Statistics Poland.

In January, Poland's consumer price index stood at 17.2 percent.

Jaka była inflacja w marcu? GUS skorygował dane flash https://t.co/PLCrFEClaJ

— Gospodarka - Polskie Radio (@Gospodarka_PRSA) April 14, 2023

Poland’s central bank chief, Adam Glapiński, has predicted that inflation will drop to the single digits by the end of 2023.

The Polish central bank said in its latest Inflation Report, released on March 10, that inflation would average at 11.9 percent this year, followed by 5.7 percent in 2024 and 3.5 percent in 2025.

The bank’s rate-setting Monetary Policy Council last week left key interest rates unchanged, keeping the reference rate at 6.75 percent.

(gs)

Source: PAP