Polish inflation at 4.2% in July: flash estimate

Inflation in Poland stood at 4.2 percent in year-on-year terms in July, the country’s statistics office said in a flash estimate on Wednesday.

Pixabay License

Image by Maria Moczydlak from Pixabay

The reading was 0.2 percentage points lower than forecast by economists polled by Poland’s PAP news agency.

According to the flash estimate consumer #prices in #Poland in July 2024 were by 4.2% higher than a year before (price index 104.2) and increased by 1.4% (price index 101.4) as compared to June 2024.https://t.co/TXL7DupMMN#StatisticsPoland #statistics #CPI pic.twitter.com/4LXcwe9ctP

— Statistics Poland (@StatPoland) July 31, 2024

In June, the prices of consumer goods and services in Poland were 2.6 percent higher than in the same month a year earlier, according to the state-run Statistics Poland (GUS) agency.

In May, Poland's consumer price index stood at 2.5 percent, Statistics Poland has reported.

The Polish central bank predicted in its latest Inflation Report, released on July 5, that inflation would average at 3.7 percent in 2024, followed by 5.2 percent in 2025 and 2.7 percent in 2026.

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

(gs)

Source: PAP