Inflation around 8.5% in September - Glapinski

The President of the National Bank of Poland (NBP), Adam Glapiński, announced during a press conference that September's inflation is expected to be slightly above 8.5 percent. He pointed out that this level signifies that inflation has now entered the single-digit range.

Glapiński also explained that the decision to lower interest rates was taken once the previously stated conditions were met, which included achieving single-digit annual inflation and a multi-quarter projection anticipating a rapid decline in inflation. Maintaining rates at 6.75 percent while the Consumer Price Index (CPI) was decreasing would risk stagnating the economy. Additionally, Glapiński noted that the average price level in Poland had remained stable for the past five months.

Source: obserwatorfinansowy.pl