Inflation in Poland stood at 2.90% year-on-year in September, coming in below market expectations of 3.00%. On a monthly basis, prices remained unchanged (0.00% m/m), also better than the market consensus of +0.2%.
The sharpest declines were recorded in food and non-alcoholic beverages, which fell by 0.50% m/m. Fuel for private transport decreased by 0.40% m/m. On the other hand, energy carriers rose by 0.20%—a move that was expected, given that the government’s subsidy scheme for heating prices expired on June 30.
This marks the second consecutive month with the lowest inflation reading this year (August also posted 2.90%). The macro data add another small element to the recently dovish tone of Poland’s Monetary Policy Council (RPP).
Author: Szymon Gil, Investment Advisor, CIIA, Director of Strategic Clients, Michael / Ström Brokerage House
Source: CEO.com.pl
