Poland Inflation Confirmed at 8-Month High

The annual inflation rate in Poland rose to 3% in March 2026 from 2.1% in the previous month, matching preliminary estimates. This marked the highest level since July 2025, as prices rebounded in transport (3.1% vs -5.7% in February), driven by higher energy and fuel costs linked to Middle East supply disruptions. Costs also increased in recreation and culture (5.1% vs 2.4%), while inflation remained steady in housing and utilities (3.1%) and restaurants and hotels (4.6%), and deflation eased in clothing and footwear (-3.2% vs -3.4%). Meanwhile, inflation moderated in several categories, including food and non-alcoholic beverages (2.1% vs 2.4%), alcoholic beverages and tobacco (6.7% vs 6.9%), health (4.7% vs 4.8%), information and communication (2.9% vs 4.3%), and education (6% vs 6.1%). On a monthly basis, consumer prices increased 1.1% in March, upwardly revised from 1% in the preliminary estimate, following a 0.3% rise in February.

The inflation rate in Poland rose by 3% year-on-year in March 2026 from an upwardly revised 2.4% in the previous month, according to flash estimates. This marked the highest reading in eight months, driven largely by a renewed increase in energy costs, particularly fuel prices, amid escalating geopolitical tensions linked to the Iran conflict. The rebound in inflation comes after a period of moderation and, although slightly below market expectations, signals a shift in the price environment as energy-driven pressures begin to re-emerge. Prices increased in food and non-alcoholic beverages (+2%), electricity, gas, and other fuels (+3.9%), and fuel and transport equipment (+8.5%). On a monthly basis, consumer prices grew 1% in March, following a revised flat reading in the preceding period.

The annual inflation rate in Poland eased to 2.1% in February 2026, unchanged from the downwardly revised 2.1% in the previous month, marking the lowest two-month level since March 2024, primarily due to last year’s high base effect. Prices remained unchanged for food and non-alcoholic beverages from last month’s 2.4%, as well as for alcoholic beverages and tobacco at 6.9%, and education at 6.1%. Meanwhile, costs rose for housing and utilities (4.3% vs 3.8% in January) and information and communication (4.3% vs 3.7%), while increasing at a slower pace for health (4.8% vs 5%), recreation, sports, and culture (2.4% vs 4.3%), and restaurants and accommodation services (4.6% vs 5.1%). In addition, deflation held steady in furnishings, household equipment, and maintenance (-1.3%), deepened for clothing and footwear (-3.4% vs -2.7%), and eased for transport (-5.7% vs -5.8%). On a monthly basis, consumer prices slowed to 0.3% in February from an upwardly revised 0.7% in January.