Polish inflation at 17.5% in November: stats office

Inflation in Poland stood at 17.5 percent in year-on-year terms in November, the country’s statistics office reported on Thursday.

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

In November 2022. #consumerprices increased by 17.5% (price index 117.5) compared to November 2021, and increased by 0.7% (price index 100.7) compared to October 2022. https://t.co/hSlBAjtdkV#StatisticsPoland #CPI #PriceIndex #inflation pic.twitter.com/4yzcjqpMVH

— Statistics Poland (@StatPoland) December 15, 2022

In October, the prices of consumer goods and services in Poland were 17.9 percent higher than in the same month a year earlier, according to the state-run Statistics Poland (GUS) agency.

In September, Poland's consumer price index stood at 17.2 percent, Statistics Poland reported.

Sprawdź najnowsze dane #GUS. 🔻#inflacjahttps://t.co/aaZYkvaQlY

— Polskie Radio (@polskieradiopl) December 15, 2022

Poland’s central bank in mid-November updated its inflation projections for the country, saying that inflation was expected 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 this month that the country was on track to avoid recession and that he expected inflation to fall to the single digits in 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