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Polish inflation at 3.9% in January: stats office

15.02.2024 11:30
Inflation in Poland stood at 3.9 percent in year-on-year terms in January, the country’s statistics office said in an estimate on Thursday.
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The figure was 0.2 percentage points lower than forecast by economists polled by Poland’s PAP news agency.

In December, the prices of consumer goods and services in Poland were 6.2 percent higher than in the same month a year earlier, according to the state-run Statistics Poland (GUS) agency.

In NovemberPoland's consumer price index stood at 6.6 percent, Statistics Poland has reported.

Poland’s central bank chief, Adam Glapiński, said earlier this month that inflation in the country could fall below 3.5 percent by the end of the first quarter of 2024.

He hailed the anticipated drop in inflation as a success for his central bank and its monetary policy, while acknowledging the uncertainty surrounding inflation rates in the latter half of the year due to potential fiscal and regulatory constraints.

The Polish central bank had predicted in its latest Inflation Report, released on November 10, that inflation would average at 11.4 percent in 2023, followed by 4.6 percent in 2024 and 3.7 percent in 2025.

The central bank’s rate-setting Monetary Policy Council last week left key interest rates unchanged, keeping the reference rate at 5.75 percent.

(gs)

Source: PAP