8:10 16 November 2024
Poland’s Inflation at 5% in October: GUS Reports
In October 2024, Poland's consumer prices rose by 5.0 percent y/y, with a monthly increase of 0.3 percent, according to the Central Statistical Office (GUS). This aligns with earlier flash estimates and analyst expectations.
The data reveals that food and non-alcoholic beverages saw a 4.9 percent annual increase, contributing 0.18 percentage points to the overall inflation rate. Energy carriers experienced an 11.5 percent rise, adding 0.09 percentage points. Conversely, fuel prices for private transportation remained unchanged y/y but decreased by 2.2 percent compared to the previous month.
Analysts from the Polish Economic Institute (PIE) attribute the inflation uptick to the partial unfreezing of energy prices. They anticipate that inflation will remain between 5.0 percent and 5.5 percent in the coming months, with a gradual decline expected in the second half of 2025.
