4:44 17 July 2025
Inflation may dip in July
Consumer inflation could fall to 2.7–2.8% year-on-year in July, down from 4.1% in June, according to Monetary Policy Council member Cezary Kochalski. Speaking to ISBnews, he said disinflation will likely deepen over the summer months and called the July inflation path “much more favorable” than March’s forecast.
The Central Statistical Office (GUS) confirmed a 0.1% monthly rise in June prices. Meanwhile, the National Bank of Poland’s (NBP) July projection sees average CPI inflation at 3.9% for 2025, falling to 3.1% in 2026 and 2.4% in 2027.
NBP also warned that extending the EU’s emissions trading system (EU ETS2) to transport and construction could affect inflation. A PLN 10 rise in CO₂ costs may raise inflation by 0.08 percentage points. Core inflation is forecast at 3.4% this year, declining to 2.6% by 2027.
Soure: stockwatch.pl
