Poland: Inflation eases in October from the prior month
Latest reading: Consumer prices were up 2.8% on a year-on-year basis in October, following a 2.9% increase in the prior month. As such, inflation remained within the Central Bank’s 1.5–3.5% target range for the fourth consecutive month. Slower price growth for food outweighed sharper price pressures for housing and utilities plus transport.
Meanwhile, core inflation came in at 3.0% in October, down from the prior month’s 3.2%. Finally, consumer prices increased 0.10% in October on a month-on-month basis, following a flat reading in the prior month.
Panelist insight: ING’s Rafal Benecki and Adam Antoniak commented:
“Both our forecasts and the November [National Bank of Polan] projections indicate that CPI inflation should return towards the central bank [2.5%] target in a sustainable manner in the coming quarters. That means that the Monetary Policy Council (MPC) can continue easing its policy, and another 25bp rate cut cannot be ruled out in December.”