- Polish inflation surprised on the upside in March coming out at 3.6% y/y - a small increase compared to February’s figure of 3.3% y/y.
- After declining rapidly for several months, Polish inflation has increased in the last two months on the back of a weaker zloty.
- Today’s data on March’s inflation does not change our view on Polish monetary policy We still expect the key policy rate to be cut to 3.25% from 3.75% in the coming six months.
Details
The Polish statistical office released data on Polish consumer price inflation in March today. Inflation rose to 3.6% y/y in March compared to February’s inflation of 3.3% y/y - the consensus expectation was 3.4% y/y while our forecast was 3.3% y/y. Food, beverages and tobacco were key contributing factors behind higher inflation.
