Polish inflation at 17.2% in January: stats office

Inflation in Poland stood at 17.2 percent in year-on-year terms in January, the country’s statistics office said in an estimate on Wednesday.

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The figure was 0.5 percentage points lower than forecast by economists polled by Poland’s PAP news agency.

In January 2023. #consumer prices rose 17.2% (price index 117.2) compared to January 2022, and increased 2.4% (price index 102.4) compared to December 2022.https://t.co/PrByLqa52D#StatisticsPoland #CPI #PriceIndex #inflation pic.twitter.com/grKe9W6oib

— Statistics Poland (@StatPoland) February 15, 2023

In December, the prices of consumer goods and services in Poland were 16.6 percent higher than in the same month a year earlier, according to the state-run Statistics Poland (GUS) agency.

In November, Poland's consumer price index stood at 17.5 percent, Statistics Poland has reported.

Poland’s central bank chief, Adam Glapiński, said last week that inflation in the country could decline to around 8 percent in the final quarter of 2023, possibly falling to 6 percent in December.

The Polish central bank in mid-November had 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 last Wednesday left key interest rates unchanged, keeping the reference rate at 6.75 percent.

(gs)

Source: PAP

Click on the audio player above for a report by Radio Poland's Piotr Miszczuk.