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Polish Inflation Rate in March 2024: 1.9%

ECONOMYPolish Inflation Rate in March 2024: 1.9%

In March 2024, inflation reached 1.9% year-on-year, as reported by the Central Statistical Office. Experts had anticipated a figure of 2.2%, although more optimistic forecasts were also made.

Inflation in March 2024 was reported at 1.9% year-on-year by the Central Statistical Office. Experts had anticipated a figure around 2.2%, although there were also more optimistic forecasts. This rate of price increase is the lowest since 2019. For the previous 36 months, CPI inflation in Poland consistently exceeded the 2.5% target set by the National Bank of Poland. Just over a year ago, in February 2023, it reached 18.4%, the highest in 26 years. Consumer inflation remained in double digits in our country for 18 months, and for 30 months, it was 5% or higher. The average (geometric) CPI inflation for the last 5 years was 7.3%, for the previous 10 years 3.8%, and for the last 20 years – 3.3%.

Compared to February, prices in March increased by 0.2%. Since October 2023, prices have been rising month-on-month, whereas in the five months ending in September, they remained static or fell. Energy carriers decreased in price by 0.4% compared to February, while fuels slightly increased by 0.1%.

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