Inflation in Poland stood at 3.5% year on year in October — RMF24

In Poland, consumer price inflation stood at 3.5% year on year in October. Compared with September, prices for goods and services fell by 0.4%, RMF24 reports, citing Poland’s Central Statistical Office.

What affected prices

The biggest impact on the overall price indicator in October came from cheaper transport, down 6.1%, as well as recreation, sport and culture, down 2.6%.

At the same time, the costs of using an apartment or house, water supply, electricity, gas and other fuels rose by 1%. Clothing and footwear became 2.9% more expensive, food and non-alcoholic beverages rose by 0.4%, and information and communication services increased by 0.7%.

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Economic slowdown

The statistical office also reported that the pace of economic growth slowed from 4% to 3.5% in the third quarter. Jacek Kotłowski, head of the Economic Analysis and Research Department at the National Bank of Poland, linked this to more cautious consumer behavior.

According to RMF24, high fuel prices affected Poles’ budgets, prompting them to save more. The third quarter covered the period from early July to the end of September. During half of this period, the Ceny Paliwa Niżej program was not in effect, and the cost of refueling sometimes reached 9 zlotys per liter.