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Poland Inflation February 2020

Poland

Poland: Inflation jumps to over eight-year high in February

March 13, 2020

Consumer prices surged 0.7% over the previous month in February, following January’s 0.9% jump, according to a flash release by the Poland’s Statistical Institute (GUS). The reading largely reflected soaring prices for food and non-alcoholic beverages and for utilities, more than offsetting lower prices for transport and clothing and footwear. Core consumer prices in December (the latest month for which data is available) spiked 0.6% in month-on-month terms, up from November’s flat reading.

Inflation climbed from 4.3% in January to 4.7% in February, the fastest increase since November 2011, and thus moved further above the upper bound of the Central Bank’s target range of 2.5% plus or minus 1.0 percentage point. For its part, core inflation came in at 3.1% in December, above November’s 2.6%, printing the strongest increase in over eight years.

bet360备用网址 All told, annual average inflation rose from January’s 2.6% to 2.9% in the second month of 2020, the highest reading since March 2013.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.5% in 2020, which is unchanged from last month’s projection. For 2021, the panel sees inflation averaging 2.4%.


Author: Massimo Bassetti, Economist
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Poland Inflation February 20 20

Note: Annual and monthly variation of consumer price index in %.
Source: Central Statistical Office (GUS).


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