"Inflationary pressure is easing." GUS flash estimate

Prof. Hausner o polityce gospodarczej rządu

Źródło: TVN24

In November, Poland's inflation rate stood at 4.6% year-on-year, according to a flash estimate by the Central Statistical Office (GUS, Statistics Poland). The estimate aligns with economists' expectations and marks a decrease from October's 5.0% year-on-year figure.

Economists surveyed by PAP Biznes had anticipated a 4.6% year-on-year inflation rate and a 0.4% month-on-month increase.

"Inflation fell in November to 4.6%. Changes in the index are primarily linked to fuel prices, which are 6% lower year-on-year. Other categories remained relatively stable; however, food prices are rising at a faster rate (4.8%), and core inflation is estimated at 4.2%," commented experts from the Polish Economic Institute.

"We expect inflation to stabilize in December and rise slightly in the first quarter. In January, the CPI will likely exceed 5% again, even with frozen energy prices. This will result from faster growth in food and industrial goods prices. The results will also be impacted by the high pace of service price increases, driven by rising labor costs," the statement reads.

"It wasn't a particularly exciting publication. GUS also reported 4.6%. Core inflation stands at 4.2% (with a slight risk of 4.3%). The final estimate (mid-month) will be interesting for its composition, particularly core inflation. Inflationary pressure is disappearing," according to mBank economists.