Poland Witnesses Unexpected Drop in December Inflation

    Recent figures released by the Central Statistical Office (GUS) have unveiled a surprising downturn in Poland’s inflation rate, falling from 6.6% to 6.1% in December. According to the GUS report, consumer prices for goods and services in December 2023 showed a 6.1% year-on-year increase, accompanied by a mere 0.1% monthly rise.

    Food Prices Stable, Energy Costs Show Variability

    Preliminary estimates for December 2023 indicate a 5.9% increase in food and non-alcoholic beverage prices compared to December 2022 (price index 105.9), marking a 0.2% uptick from November 2023 (price index 100.2).

    Meanwhile, energy carrier prices experienced a notable surge of 9.8% compared to December 2022 (price index 109.8) but witnessed a slight decrease of 0.3% compared to November 2023 (price index 99.7).

    Fuel prices for private transport witnessed a decline, dropping by 6.0% compared to December 2022 (price index 94.0), further decreasing by 1.8% compared to November 2023 (price index 98.2).

    Despite recent declines, experts are predicting a potential resurgence in inflation, particularly in the initial months of this year.

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