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Polish inflation at 16.6% in December: flash estimate

05.01.2023 10:05
Inflation in Poland stood at 16.6 percent in year-on-year terms in December, the country’s statistics office said in a flash estimate on Thursday.
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Pixabay LicenseImage by Maria Moczydlak from Pixabay

The figure was 0.7 percentage points lower than forecast by economists polled by Poland’s PAP news agency.

In Novemberthe prices of consumer goods and services in Poland were 17.5 percent higher than in the same month a year earlier, according to the state-run Statistics Poland (GUS) agency.

In OctoberPoland's consumer price index stood at 17.9 percent, Statistics Poland reported.

Poland’s central bank chief Adam Glapiński said last month 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 Polish central bank in mid-November predicted that inflation would average at 13.1 percent this year and 5.9 percent in 2024.

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

(gs)

Source: PAP