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Poland Inflation September 2019

Poland: Inflation eases in September

A revised estimate showed consumer prices were unchanged over the previous month in September (previously reported: -0.1% month-on-month), matching August’s print, according to data released by the Poland’s Statistical Institute (GUS). The reading largely reflected higher prices for garments, meat and catering services offsetting lower prices for vegetables and transport services. Core consumer prices in August (the latest month for which data is available) rose 0.2% in month-on-month terms, following July’s 0.1% uptick.

Inflation dropped to 2.6% in September from 2.9% in August, which had marked the fastest increase since October 2012, and thus moved closer to the midpoint of the Central Bank’s target range of 2.5% plus or minus 1.0 percentage point. This was due to steeper price falls for utilities, and fuels as well as to lower price increases for food and non-alcoholic beverages. For its part, core inflation came in at 2.2% in August mirroring July’s print—the highest reading since July 2012.

All told, annual average inflation was stable at August’s 1.9% in September.

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