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Polish inflation at 6.1% in December: flash estimate

05.01.2024 12:30
Inflation in Poland stood at 6.1% year-on-year in December, the country's statistics office said in a flash estimate on Friday. 
Pixabay license.
Pixabay license.Image by Adam Górka from Pixabay

Poland's consumer prices increased by 6,1% in December 2023, compared with December 2022, the Statistics Poland (GUS) agency announced.

Compared with November 2023, consumer prices rose by 0,1% last month, officials added.

The reading is better than expected by the markets, public broadcaster Polish Radio's IAR news agency reported.  

In November, inflation in Poland stood at 6.6 percent in year-on-year terms, according to Statistics Poland.

In Octoberthe prices of consumer goods and services in Poland were 6.6 percent higher than in the same month a year earlier, according to the state-run Statistics Poland (GUS) agency.

In SeptemberPoland's consumer price index stood at 8.2 percent.

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.

In December, the Polish central bank's rate-setting Monetary Policy Council left interest rates unchanged, keeping the reference rate at 5.75 percent.

Earlier this year, the panel slashed key interest rates by a combined 100 basis points, amid signs of subsiding inflation.

Source: Statistics Poland, IAR, PAP