Flash estimate: inflation in Poland highest in over two decades

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Inflacja w Polsce. Dane za październik 2021 roku
Źródło: TVN24
Consumer prices in October 2021, compared with the corresponding month of the previous year, increased by 6.8% (with an increase of prices of goods and services by 6,8% each). As related to the previous month consumer prices increased by 1.1% (of which goods by 1.3% and services by 0.3%), Statistics Poland said in its flash estimate released on Monday. This is a level unseen since May 2001, when inflation in Poland spiked up to 6.9%.

According to Statistics Poland, consumer prices in October 2021, compared with the corresponding month of the previous year, increased by 6.8% (with an increase of prices of goods and services by 6.8% each).

As related to the previous month consumer prices increased by 1.1% (of which goods by 1.3% and services by 0.3%), the institution added in a flash estimate.

Inflation in Poland
Inflation in Poland
Źródło: PAP/Maciej Zieliński

Contribution of price changes to the total consumer price index

In October of the current year, compared with the previous month, the highest contribution to the total consumer price index came from higher prices related to Dwelling (by 2.0%), Transport (by 2.3%), Food (by 0.5%) and Clothing and Footwear (by 3.2%) which increased the index by 0.49 pp, 0.23 pp and by 0.13 pp each, respectively.

Lower prices related to Communication (by 0.3%) decreased the index by 0.02 pp. Compared with the corresponding month of the previous year, higher prices related to Dwelling (by 8.1%), Transport (by 22.1%) and Food (by 4.7%) increased the consumer price index by 2.04 pp, 1.95 pp and 1.18 pp, respectively.

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