Polish inflation at 4.2% in July: stats office

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

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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.

In July 2024 consumer #prices increased by 4.2% (price index 104.2) compared to July 2023.https://t.co/MAIQ5f8bxT#StatisticsPoland #statistics #PriceIndex pic.twitter.com/DjeWLWcggP

— Statistics Poland (@StatPoland) August 14, 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.

Check how the prices of groups of consumer goods and services changed in July 2024 as compared to July 2023.https://t.co/MAIQ5f8bxT#StatisticsPoland #priceindex #statistics pic.twitter.com/2mrFTns7f8

— Statistics Poland (@StatPoland) August 14, 2024

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 last month left key interest rates unchanged, keeping the reference rate at 5.75 percent.

(gs)

Source: IAR, PAP