According to the so-called When reading quickly, inflation in Poland in October 2023 was 6.5%. Every year.
On Tuesday, the Central Bureau of Statistics published data on the level of inflation in the country. According to the so-called When reading quickly, this indicator was 6.5 percent in October. counting year after year.
Compared to the previous month, inflation rose by 0.2%. Food and energy prices rose again in October. But fuel became cheaper.
Compared to the same period last year, food and non-alcoholic beverage prices increased by 7.9 percent, energy prices increased by 8.3 percent and fuel prices for private transportation decreased by as much as 14.4 percent.
“CPI inflation continues to decline rapidly, falling to 6.5% annualized in October from 8.2% annualized in September. The price level rose by 0.2% year-on-year during the month, for the first time since April. Food prices returned to seasonal increases (% m/m) after four months of decline. In turn, fuels were 4.2% m/m cheaper in October than in September, despite price increases seen since mid-month. On an annual basis, the high reference base also contributed (a year ago food and fuel prices rose significantly),” PKO banking analysts said.
Inflation in Poland
As recently reported by the Central Bureau of Statistics, inflation was 8.2 percent on an annual basis and was in line with the flash estimate presented by the Central Bureau of Statistics at the end of last month.
“Currently, when inflation is falling rapidly and at the same time the economic situation is deteriorating, including in the case of major trading partners, the NBP does not hesitate to adjust the interest rate level to the conditions of the domestic economy. Of course, taking into account that the primary objective of monetary policy remains a permanent reduction in inflation to the medium-term target,” wrote the President of the National Bank of Poland, Adam Glapiński, in an article published in the Financial Times.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
