Polish inflation at 6.5% in November: flash estimate

Inflation in Poland stood at 6.5 percent in year-on-year terms in November, the country’s statistics office said in a flash estimate on Thursday.

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The reading was 0.1 percentage point lower than forecast by economists polled by Poland’s PAP news agency.

W listopadzie 2023 r. #ceny towarów i usług konsumpcyjnych wg szybkiego szacunku wzrosły w porównaniu do listopada 2022 r. o 6,5% (wskaźnik cen 106,5), a w stosunku do października 2023 r. wzrosły o 0,7% (wskaźnik cen 100,7).https://t.co/LCqxmzt6hI#GUS #statystyki pic.twitter.com/ZSgT1HqILu

— GUS (@GUS_STAT) November 30, 2023

In October, the prices of consumer goods and services in Poland were 6.6 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 8.2 percent.

The Polish central bank said in its latest Inflation Report, released on November 10, that inflation would average at 11.4 percent this year, followed by 4.6 percent in 2024 and 3.7 percent in 2025.

The bank’s rate-setting Monetary Policy Council last month trimmed key interest rates by a further 25 basis points, amid signs of subsiding inflation.

(gs)

Source: PAP