Poland’s National Bank (NBP) recently announced a significant downturn in inflation, crediting its effective policies for the positive trend.
Current Scenario
In February 2023, Poland witnessed its highest inflation rate in years, soaring to 18.4%. However, over the past 11 months, NBP’s decisive actions have led to a noticeable decrease.
The swift decline in inflation, from 18.4% in February 2023 to 3.9% in January 2024, as reported by the Central Statistical Office, underscores the efficacy of NBP’s strategies.
Towards Inflation Target
With the inflation rate nearing the 2.5% target set by Poland, NBP’s and Monetary Policy Council’s decisions are proving effective in steering the economy towards stability.
The concerted efforts of NBP and policy-makers have demonstrated their ability to curb inflation effectively, bringing Poland closer to its inflationary goals.