15:18 30 November 2024
Poland's Inflation Expected to Rise in Coming Months
In November 2024, Poland's annual inflation rate decreased to 4.6 percent from 5.0 percent in October, according to preliminary data from Statistics Poland (GUS). This decline is primarily attributed to a 6.0 percent y/y drop in fuel prices for private transportation, influenced by a high base effect from the previous year.
Food and non-alcoholic beverage prices increased by 4.8 percent y/y, while energy carriers saw an 11.7 percent rise. Monthly, food prices rose by 0.7 percent, energy carrier prices remained stable, and fuel prices increased by 2.3 percent.
Economists anticipate that this downward trend will be short-lived.
"In December, these base effects will fade, leading to inflation around 5.0, percent," Mariusz Zielonka, Chief Economist at the Lewiatan Confederation, noted.
Monika Kurtek, Chief Economist at Bank Pocztowy, projects that inflation will peak at approximately 5.3 percent in March 2025 before gradually declining.
