Polish inflation at 17.9% in October: stats office

Inflation in Poland stood at 17.9 percent in year-on-year terms in October, the country’s statistics office reported on Tuesday.

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The reading was in line with a flash estimate released by the state-run Statistics Poland (GUS) agency at the end of last month.

Consumer #prices in #Poland in October 2022 increased by 17.9% YoY (price index 117.9). Compared to the previous month they increased by 1.8% (price index 101.8). https://t.co/YgCLh9j3vJ#StatisticsPoland #statistics #CPI #PriceIndices #PriceIndex #inflation pic.twitter.com/yHDbtdpY8O

— Statistics Poland (@StatPoland) November 15, 2022

In September, the prices of consumer goods and services in Poland were 17.2 percent higher than in the same month a year earlier, according to the state-run Statistics Poland (GUS) agency.

In August, Poland's consumer price index stood at 16.1 percent, Statistics Poland reported.

Poland’s central bank on Monday updated its inflation projections for the country, saying it now expects inflation to average at 14.5 percent this year, followed by 13.1 percent in 2023 and 5.9 percent in 2024.

Poland’s central bank chief, Adam Glapiński, said last week that inflation in the country would likely hit a peak of 19 percent "in January or February," before starting to fall in March and declining to around 8 percent in the final quarter of 2023.

The central 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