Poland Inflation Accelerates As Estimated In September

(RTTNews) - Poland's consumer price inflation accelerated as initially estimated in September, latest figures from Statistics Poland showed on Friday.

Consumer price inflation rose to 17.2 percent in September from 16.1 percent in August. That was in line with flash data published on September 30.

A 29.9 percent rise in utility costs was primarily responsible for the upward trend in inflation. This was followed by a 19.3 percent rise in prices for food and non-alcoholic beverages.

Transport costs alone grew 16.4 percent from last year and those for restaurants and hotels increased 17.8 percent.

On a monthly basis, consumer prices moved up 1.6 percent in September, following a 0.8 percent gain in August. The latest figures match flash data.

"We have long held the view that the second half of 2022 would not bring a fall in inflation and this scenario seems to be materialising." Adam Antoniak, an economist at ING said.

In this context, further interest rate increases are possible, although the Monetary Policy Council is determined to end its hike cycle as soon as possible, the economist added.