Polish inflation at 13% in May: stats office

Inflation in Poland stood at 13 percent in year-on-year terms in May, the country’s statistics office reported on Thursday.

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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.

In May 2023. #prices of consumer goods and services increased by 13.0% (price index 113.0) compared to May 2022, and increased by 0.7% (price index 100.7) compared to April 2023.https://t.co/mRATeLdyJP#StatisticsPoland #CPI #priceindex #prices #statistics #inflation. pic.twitter.com/eIifOBbIag

— Statistics Poland (@StatPoland) June 15, 2023

In April, the prices of consumer goods and services in Poland were 14.7 percent higher than in the same month a year earlier, according to the state-run Statistics Poland (GUS) agency.

In March, Poland's consumer price index stood at 16.1 percent.

Inflacja w maju w silnym trendzie spadkowym. GUS podał najnowsze dane https://t.co/Sa9rhLaqJm

— Gospodarka - Polskie Radio (@Gospodarka_PRSA) June 15, 2023

Poland’s central bank chief, Adam Glapiński, has predicted that inflation will drop to the single digits by the end of 2023.

The Polish central bank said in its latest Inflation Report, released in March, that inflation would average at 11.9 percent this year, followed by 5.7 percent in 2024 and 3.5 percent in 2025.

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

(gs)

Source: PAP