There is new inflation data. On an annual basis, prices of consumer goods and services rose by 6.5% in November. – reported the Central Bureau of Statistics.
Inflation in November was 6.5% on an annual basis and 0.7% on a monthly basis. – This was reported by the Central Bureau of Statistics on Thursday. This position represents a decrease of 0.1 percentage points compared to October, and at the same time the least bad result in more than two years, and specifically since September 2021.
Inflation 6.5 percent
In November, price inflation for food and non-alcoholic drinks was 7.2%. (monthly they increased by 0.8%). Energy carrier prices increased by 7.9%. (decrease by 0.1% m/m).
Published data shows fuel prices have fallen by 5.7% year-on-year. However, they rose 8.8% month-on-month.
NBP predictions
The National Bank of Poland has published the November inflation projection, covering the period from the fourth quarter of 2023 to the fourth quarter of 2025. The starting point of the projection is the third quarter of this year. It was prepared based on unchanged NBP interest rates, including the reference rate of 5.75%, taking into account data available until October 23, 2023.
Consumer inflation will – according to the central projection path – amount to 11.4%. in 2023, 4.6 percent in 2024 and 3.7 percent in 2025 (compared to 11.9%, 5.2% and 3.6% for these years, respectively, in the July projection).
“Future economic activity and the path of CPI inflation in Poland largely depend on the extent of the disruptions in the functioning of the world economy caused by Russian aggression against Ukraine and the conflict in the Middle East,” we read in the NBP report.
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.
