Polish inflation at 6.6% in October: stats office

Inflation in Poland stood at 6.6 percent in year-on-year terms in October, the country’s statistics office said on Wednesday.

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The reading was a notch higher than a flash estimate of 6.5 percent released by the state-run Statistics Poland (GUS) agency at the end of last month.

Consumer #prices in #Poland in October 2023 as compared to October 2022 increased by 6.6% (price index 106.6) and as related to the October 2023 increased by 0.3% (price index 100.3).https://t.co/KqmIsNZzTr#StatisticsPoland #statistics #CPI pic.twitter.com/LDkNQYe6wL

— Statistics Poland (@StatPoland) November 15, 2023

In September, the prices of consumer goods and services in Poland were 8.2 percent higher than in the same month a year earlier, according to the state-run Statistics Poland (GUS) agency.

In August, Poland's consumer price index stood at 10.1 percent.

The Polish central bank's rate-setting Monetary Policy Council in September and October slashed key interest rates by a combined 100 basis points, amid signs of subsiding inflation.

The Polish central bank said in its latest Inflation Report, released on November 10, that inflation would average at 11.4 percent this year, followed by 4.6 percent in 2024 and 3.7 percent in 2025.

(gs)

Source: PAP