Polish inflation at 17.4% in November: flash estimate

Inflation in Poland stood at 17.4 percent in year-on-year terms in November, the country’s statistics office said in a flash estimate on Wednesday.

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The figure was 0.6 percentage points lower than forecast by economists polled by Poland’s PAP news agency.

According to the flash estimate consumer #prices in #Poland in November 2022 as compared to November 2021 increased by 17.4% (price index 117.4) and increased by 0.7% (price index 100.7) as compared to October 2022. https://t.co/zQh1pQ7gIq#StatisticsPoland #statistics #CPI pic.twitter.com/OUwtz0xKOE

— Statistics Poland (@StatPoland) November 30, 2022

In October, the prices of consumer goods and services in Poland were 17.9 percent higher than in the same month a year earlier, according to the state-run Statistics Poland (GUS) agency.

In September, Poland's consumer price index stood at 17.2 percent, Statistics Poland reported.

Jaka była inflacja w listopadzie? GUS podał wstępne dane https://t.co/eEgirz8zaK

— Gospodarka - Polskie Radio (@Gospodarka_PRSA) November 30, 2022

Poland’s central bank in mid-November updated its inflation projections for the country, saying it now expects inflation to average at 14.5 percent this year, followed by 13.1 percent in 2023 and 5.9 percent in 2024.

Poland’s central bank chief, Adam Glapiński, said earlier this month that inflation in the country would likely hit a peak of 19 percent "in January or February," before starting to fall in March and declining to around 8 percent in the final quarter of 2023.

(gs)

Source: PAP