Statistics Poland: inflation in August at 10.1% year on year

Compared to the corresponding month last year, prices of goods and services in August 2023 increased by 10.1% (with an increase of prices of services – by 11.1% and goods – by 9.8%).

As related to the previous month consumer prices remained at the same level (of which goods decreased – by 0.2%, and the prices of services increased – by 0.6%). 

Inflation in July 2023 stood at 10.8% year on year, the stats office said last month.

According to Statistics Poland, compared to August 2022, "higher prices related to food (by 12.5%), dwelling (by 11.4%), recreation and culture (by 10.9%), and restaurants and hotels (by 13.3%), increased the index by 3.07 pp, 2.87 pp and by 0.68 pp each, respectively".

"Lower prices related to Transport (by 1.7%) decreased the index by 0.17 pp".

Compared to July 2023, "the highest contribution to the total consumer price index came from higher prices related to transport (by 2.0%), dwelling (by 0.2%), health (by 0.5%) and restaurants and hotels (by 0.5%), which increased the index by 0.18 pp, 0.04 pp and by 0.03 pp each, respectively".

"Lower prices related to food (by 1.0%) and clothing and footwear (by 0.7%) decreased the index by 0.27 pp and 0.03 pp, respectively," Statistics Poland said.