Polish inflation at 11.5% in June: stats office

Inflation in Poland stood at 11.5 percent in year-on-year terms in June, the country’s statistics office reported on Friday.

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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 June 2023 increased by 11.5% YoY (price index 111.5). Compared to the previous month consumer prices remained at the same level (price index 100.0).https://t.co/xDVCFiPomU#StatisticsPoland #statistics #CPI #PriceIndices #PriceIndex #inflation pic.twitter.com/fUv4n1ecET

— Statistics Poland (@StatPoland) July 14, 2023

In May, the prices of consumer goods and services in Poland were 13 percent higher than in the same month a year earlier, according to Statistics Poland.

In April, Poland's consumer price index stood at 14.7 percent.

Inflacja w czerwcu pozostaje w trendzie spadkowym. GUS podał najnowsze dane https://t.co/ogQ1OdrBA9

— Gospodarka - Polskie Radio (@Gospodarka_PRSA) July 14, 2023

Poland’s central bank chief, Adam Glapiński, last week renewed his prediction that the Polish economy would avoid a recession this year and that inflation would drop to the single digits by the end of 2023.

The Polish central bank said in its latest Inflation Report, released on Monday, that inflation would average at 11.9 percent this year, followed by 5.2 percent in 2024 and 3.6 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