Retail

Poland's consumer prices increase 6.6% in November 2023

19 Dec '23

1 min read

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Insights

In November, Poland's consumer prices rose by 6.6 per cent YoY, with a 5.9 per cent increase in goods prices.
MoM, there was a 0.7 per cent rise, mainly due to goods prices.
Clothing and footwear contributed 4.27 per cent to the consumer price index.
Since April 2021, the index has consistently exceeded the Monetary Policy Council's inflation target band

Poland witnessed a sharp increase in consumer prices in November 2023, according to Statistics Poland. Compared to the same month in the previous year, the consumer prices surged by 6.6 per cent, driven by a 5.9 per cent increase in the prices of goods.

The month-on-month data also reflects a rise in consumer prices, with an overall increase of 0.7 per cent. This change was primarily due to a 1 per cent increase in the prices of goods.

In terms of specific contributions to the total consumer price index, clothing and footwear had a significant impact. In November 2023, clothing and footwear contributed 4.27 per cent to the total consumer price index, as per Statistics Poland.

A notable aspect of Poland's economic landscape is that since April 2021, the consumer price index has consistently remained above the upper limit of the deviation band from the inflation target set by the Monetary Policy Council, which is 2.5 per cent.

Fibre2Fashion News Desk (DP)

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