back to top

    National Bank of Poland Anticipates Significant Inflation Drop in Q1 2024

    Estimated reading time: 1 minute

    In a recent press conference, National Bank of Poland (NBP) President Adam Glapiński expressed optimism about a substantial decline in inflation in the coming months. He stated that the decrease might be faster than initially projected, possibly falling below 3 percent in the first quarter of 2024. Glapiński emphasized the NBP’s commitment to achieving the inflation target of 2.5 percent or even lower.

    Glapiński highlighted the remarkable progress in inflation reduction, noting that in February 2023, inflation peaked at over 18 percent, only to drop to 6.1 percent by December 2023. Over the past 10 months, inflation has seen a remarkable 10-percentage-point decrease. The NBP President also noted the consistent decline in core inflation, which dropped for the 10th consecutive time in December.

    Marching Towards the Inflation Target

    As the Reserve Policy Council (RPP) decided to keep interest rates unchanged, Glapiński confidently stated that by March, inflation would be within or close to the target range. This positive development comes after months of persistent efforts to curb inflationary pressures.

    More in section