Polish inflation at 16.6% in December: flash estimate

Inflation in Poland stood at 16.6 percent in year-on-year terms in December, the country’s statistics office said in a flash estimate on Thursday.

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The figure was 0.7 percentage points lower than forecast by economists polled by Poland’s PAP news agency.

According to the flash estimate consumer #prices in #Poland in December 2022 as compared to December 2021 increased by 16.6% (price index 116.6) and increased by 0.2% (price index 100.2) as compared to November 2022. https://t.co/FrsFqaqFoY#StatisticsPoland #statistics #CPI pic.twitter.com/j31OpuhJNh

— Statistics Poland (@StatPoland) January 5, 2023

In November, the prices of consumer goods and services in Poland were 17.5 percent higher than in the same month a year earlier, according to the state-run Statistics Poland (GUS) agency.

In October, Poland's consumer price index stood at 17.9 percent, Statistics Poland reported.

Inflacja spadła mocno w dół. Zobacz nowe dane GUS https://t.co/PcRWUhFZSy

— Gospodarka - Polskie Radio (@Gospodarka_PRSA) January 5, 2023

Poland’s central bank chief Adam Glapiński said last 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.

The Polish central bank in mid-November predicted that inflation would average at 13.1 percent this year and 5.9 percent in 2024.

The central bank’s rate-setting Monetary Policy Council on Wednesday left key interest rates unchanged, keeping the reference rate at 6.75 percent.

(gs)

Source: PAP