Inflation hits 4.0%, the fastest price growth in 15 months
Prices in September were 4.0% higher than a year earlier, according to the flash estimate from Statistics Poland (GUS). Fuel accounts for roughly half of the increase.
Key facts
- Fuel prices rose 36.1% year on year after government fuel price support ended.
- Inflation was 3.4% in August. In September alone, prices rose 0.7% from the previous month.
- Food is 0.5% cheaper than a year ago.
What's next
- mBank economists expect inflation could approach 5% in January 2027.
- Economists say the Monetary Policy Council will likely wait it out, pushing interest rate cuts further away.
Source: Statistics Poland (30 Sep 2026), mBank, ING