Financial News: Poland Consumer Price Inflation Accelerates To 4.8%

Poland Consumer Price Inflation Accelerates To 4.8%

01/03/2025 - 05:18:00 (RTTNews)

(RTTNews) - Consumer price inflation in Poland climbed in December after slowing in the previous month led by food and energy prices, but annual inflation for 2024 was the lowest in four years, preliminary data from Statistics Poland showed on Friday.

The flash consumer price index rose 4.8 percent year-on-year in December. In November, inflation slowed to 4.7 percent after peaking at 5 percent in October.

Prices in the food and non-alcoholic beverages group registered a 4.8 percent increase and those of electricity, gas and other fuels logged a 12 percent surge. Prices of fuel for personal transport fell 3.9 percent.

The CPI rose 0.2 percent month-on-month in December.

For the whole year of 2024, the CPI inflation averaged 3.7 percent, which was in line with the National Bank of Poland's projection in November. This was much less than the 11.7 percent inflation registered in 2023, and the lowest since 2020 when it was 3.4 percent.

The central bank has forecast inflation to average 5.6 percent in 2025 and 2.7 percent in 2026 if the energy price relief measures for households are withdrawn. The central bank is scheduled to released core inflation data for December on January 16.

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