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.”

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Polish inflation projections for the next ten years from a panel of 35 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Polish inflation.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Polish inflation projections.

Want to get access to the full dataset of Polish inflation forecasts? Send an email to info@focus-economics.com.