This is slightly higher than analysts expected, who had expected Inflation at 4.2 percent. Experts predicted that Friday's reading should not differ significantly from the estimate. The latest data from the Central Statistical Office means that inflation is still the highest this year.
Inflation in Poland 4.3 percent. New data from the Central Statistical Office
The new reading from the Central Statistical Office is also higher than the one from a month ago – in July, inflation was 4.2 percent year-on-year. Inflation in Poland was driven by energy prices. “In August 2024, #inflation CPI (fin.) 4.3 percent Y/Y (forecast: 4.3 percent; previously: 4.2 percent)” – reports the macroNext.pl portal on platform X.
“CPI inflation in August was 4.3% y/y, compared to 4.2% y/y in July (according to the GUS flash estimate). Goods inflation rose to 3.6% y/y from 3.5% y/y in July, while the more persistent services inflation remained at 6.2% y/y. We expect that by the end of the year, total inflation should not exceed 5% y/y,” write analysts from PKO BP.
Polish The Economic Institute predicts that by the end of this year “inflation will still be close to 4.5%. “PPI indices indicate that costs production stops decreasing in most EU countries, which will contribute to growth price industrial goods. Price increases in industry among major trading partners will lead to higher import prices,” we read.
The text is being updated.