Flash estimate: March inflation at 16.2% year on year

Inflacja w marcu wyniosła rdr 16,2 proc. Relacja Bartosza Bartkowiaka ze szczecińskiego targu

Źródło: TVN24

Inflation in March 2023 decelerated down to 16.2% year on year, according to a flash estimate released by Statistics Poland on Friday (March 31). Compared to the previous month, consumer prices increased by 1.1%. Compared to the corresponding month last year, inflation in February 2023 was at 18.4%, which was the highest spike since December 1996.

"Consumer prices according to the flash estimate in March 2023, compared with the corresponding month of the previous year, increased by 16.2% (price index 116.2) and as related to the previous month increased by 1.1% (price index 101.1)" - Statistics Poland said in a flash estimate released on Friday.

The market consensus, or the mean derived from expert forecasts, assumed prices increase at 15.9%.

According to the preliminary estimate, prices of food and non-alcoholic beverages in March increased by 24% compared to March 2022, whereas energy carriers and fuel for private transport prices increased by 26% and 0.2% respectively year on year.

In a month to month comparison, prices of food and non-alcoholic beverages increased in March by 2.3%, whereas prices of energy carriers dropped by 0.6% and fuel for private transport is cheaper by 1.8%.

Statistics Poland is to publish the final data on March inflation on April 14.