23:56 31 July 2026
Inflation rises sharply in July, led by fuel prices
Poland’s annual inflation rate reached 3.0% in July, in line with market expectations, according to preliminary data from Statistics Poland. Consumer prices rose 0.8% m/m, mainly due to the end of the government’s fuel price support program. Fuel prices increased 15.8% y/y and 13.9% m/m after the standard 23% VAT rate was restored and regulated maximum prices were removed. Food prices fell 0.4% y/y, while energy prices rose 4.0%.
Economists said inflation remains within the National Bank of Poland’s tolerance range, although views differ on interest rates. PKO BP expects policymakers to remain closer to cuts, while ING forecasts no rate reductions in 2026.
(pb.pl)
