Polish inflation at 16.6% in December: stats office

Inflation in Poland stood at 16.6 percent in year-on-year terms in December, the country’s statistics office reported on Friday.

Image:

Jorge Corrales, CC BY-SA 4.0 , via Wikimedia Commons

The reading was in line with a flash estimate released by the state-run Statistics Poland (GUS) agency earlier this month.

Consumer #prices in #Poland in December 2022 increased by 16.6% YoY (price index 116.6). Compared to the previous month they increased by 0.1% (price index 100.1). https://t.co/EXOohxlOQE#StatisticsPoland #statistics #CPI #PriceIndices #PriceIndex #inflation pic.twitter.com/azJwY0CM8n

— Statistics Poland (@StatPoland) January 13, 2023

In November, the 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 October, Poland's consumer price index stood at 17.9 percent, Statistics Poland reported.

"Zmieni się ścieżka inflacji." Ekonomista o perspektywach spowolnienia wzrostu cen https://t.co/rYyPlmPODS

— Gospodarka - Polskie Radio (@Gospodarka_PRSA) January 13, 2023

Poland’s central bank chief Adam Glapiński predicted this month that the Polish economy would remain in positive territory this year, while inflation would fall to the single digits.

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 last week left key interest rates unchanged, keeping the reference rate at 6.75 percent.

(gs)

Source: PAP