The European Commission sees inflation peak in Poland at 17% in Q1

The European Commission expects Poland's Harmonised Index of Consumer Prices (HICP) to reach a peak growth of 17% annually in the first quarter, and then gradually decline to 4.2% in the fourth quarter of 2024.

Despite government measures to contain gas and electricity price increases, energy price inflation is expected to remain elevated due to the gradual phasing out of tax reliefs introduced last year. However, in the long run, declining wholesale energy prices and some easing in the labor market are expected to gradually reduce inflationary pressure.

In December, inflation in Poland stood at 15.3% versus 16.1% a month earlier, according to the EU statistical office Eurostat.