Poland Inflation Rate Falls Less than Anticipated

The annual inflation rate in Poland eased for the fourth month to a near two-year low of 2.2% in January 2026 from 2.4% in the prior month, primarily due to last year's high base effect. Still, the reading came slightly above forecasts of 2%. Food, housing, and energy bills were the main drivers of price increases, with food and non-alcoholic beverages up 2.4% year-on-year, housing 2.9%, and energy bills 3.4%. Alcoholic beverages and tobacco also rose 7.0% following excise tax hikes, while fuels fell 7.1%, moderating overall inflation. On a monthly basis, the CPI rose by 0.6% in January, after being flat in the previous month.

Annual inflation in Poland slowed to 2.4% in December 2025, the lowest since April 2024, easing from 2.5% in the previous month and in line with preliminary estimates. The moderation was driven by slower price growth in food and non-alcoholic beverages (2.4% vs. 2.7% in November), as well as deeper declines in transport (-3.2% vs. -2.3%) and clothing and footwear (-2.2% vs. -2.1%). In contrast, inflation accelerated in recreation and culture (1.9% vs. 1.7%), alcoholic beverages and tobacco (7.9% vs. 7.1%), and other goods and services (1.3% vs. 1.0%), while the decline in furnishings, household equipment, and routine household maintenance eased (-1.4% vs. -1.8%). Prices in housing and utilities (4.1%) and education (6.1%) remained stable. On a monthly basis, consumer prices were flat in December, after rising 0.1% in November.

The annual inflation rate in Poland eased to 2.4% in December 2025 from 2.5% in November, reaching its lowest level since April 2024, according to a flash estimate. The moderation was led by falling prices for fuel and transport equipment, which declined 3.1%, partially offset by increases in food and non-alcoholic beverages (+2.4%) and electricity, gas, and other fuels (+2.8%). On a monthly basis, consumer prices were unchanged in December.