Core inflation, measured excluding food and energy prices, reached 3.00% year-on-year in October 2025. Although the market expected a slightly lower reading of 2.90%, it is worth noting that as recently as September the indicator stood at 3.20%.
This is also the lowest level of core inflation since 2019, clearly showing that the economy is gradually and sustainably emerging from post-pandemic distortions.
Inflation is being driven by two main components: goods prices and services prices. According to data from Statistics Poland (GUS), the first of these engines has slowed significantly—goods were on average 1.70% more expensive year-on-year in October. However, elevated service inflation persists. Although its pace is slowly declining, service prices rose on average by 5.60% in October.
One of the factors behind this sustained cost pressure is the still strong wage growth, which in September reached 7.50% year-on-year.
Source: ceo.com.pl
