Polish inflation at 4.7% in December: stats office

Inflation in Poland stood at 4.7 percent in year-on-year terms in December, unchanged from November, the country’s statistics office reported on Wednesday.

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Image by Gerd Altmann from Pixabay

The reading was 0.1 percentage point lower than the flash estimate of 4.8 percent released by the state-run Statistics Poland (GUS) agency at the end of last month.

Inflacja w grudniu niższa od pierwotnego szacunku GUShttps://t.co/i3kvA6KJdC

— PolskieRadio24.pl (@PR24_pl) January 15, 2025

In November, the prices of consumer goods and services in Poland were 4.7 percent higher than in the same month a year earlier, according to Statistics Poland.

Check how the prices of groups of consumer goods and services changed in December 2024 as compared to December 2023.https://t.co/4FWU4czH2n#StatisticsPoland #priceindex #statistics pic.twitter.com/ULjGxZa0un

— Statistics Poland (@StatPoland) January 15, 2025

In October, Poland's consumer price index stood at 5 percent.

In December 2024 consumer #prices increased by 4.7% (price index 104.7) as compared to December 2023.https://t.co/4FWU4czH2n#StatisticsPoland #statistics #PriceIndex pic.twitter.com/JaOkGLPq6s

— Statistics Poland (@StatPoland) January 15, 2025

Meanwhile, the average inflation rate in 2024 was 3.6 percent, down from 11.4 percent in 2023, Statistics Poland said.

GUS podał dane na temat inflacji#PAPInformacje https://t.co/F6K3ZTfowp

— PAP (@PAPinformacje) January 15, 2025

The Polish central bank predicted in its latest Inflation Report, released on November 8, that inflation would average at 3.7 percent in 2024, followed by 5.6 percent in 2025 and 3.4 percent in 2026.

The central bank’s rate-setting Monetary Policy Council in early December left key interest rates unchanged, keeping the reference rate at 5.75 percent.

(gs)

Source: IAR, PAP