Poland inflation accelerates in January

Figures

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Poland's consumer prices rose 9.2% year-on-year in January, following an 8.6% increase in December, figures from the Central Statistical Office (GUS) showed on Tuesday.

Prices for dwellings grew the most, an annual 12% in January. Prices for food and non-alcoholic beverages, and alcoholic beverages and tobacco rose by 9.4% and 3.7%, respectively.

On a month-on-month basis, consumer prices rose 1.9% in January, following a 0.9% increase in the previous month. In a separate report the Warsaw-based agency said, that Poland's gross domestic product (GDP) advanced 7.3% year-on-year in the Q4 of 2021, picking up from a 5.3% expansion in the previous three-month period, above market expectations of a 7.1% gain.

It was the third straight month of expansion, as the Polish economy continued to recover from the economic setbacks brought by the pandemic. On a seasonally adjusted quarterly basis, the GDP rose by 1.7%, following 2.3% growth in the previous period. 

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