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Polish inflation at 13% in May: flash estimate

31.05.2023 10:30
Inflation in Poland stood at 13 percent in year-on-year terms in May, the country’s statistics office said in a flash estimate on Wednesday.
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Pixabay LicenseImage by mohamed Hassan from Pixabay

The reading was 0.2 percentage points lower than forecast by economists polled by Poland’s PAP news agency.

In Aprilthe prices of consumer goods and services in Poland were 14.7 percent higher than in the same month a year earlier, according to the state-run Statistics Poland (GUS) agency.

In March, Poland's consumer price index stood at 16.1 percent.

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 in March, 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 this month left key interest rates unchanged, keeping the reference rate at 6.75 percent.

(gs)

Source: PAP