Poland’s core inflation eased for a second straight month in November, in sync with the headline consumer price growth, to its lowest level in six years, data from the National Bank of Poland showed on Tuesday.
The consumer price index excluding food and energy prices rose 2.7 percent year-on-year in November after a 3.0 percent increase in October. That was in line with economists’ expectations.
The latest core inflation rate was the lowest since November 2019, when it was 2.6 percent.
In August and September, core inflation was 3.2 percent.
Data released from the statistical office earlier this week confirmed that headline CPI inflation slowed to 2.5 percent in November from 2.8 percent in the previous month. That was the lowest since May 2024, when inflation was at the same level.
The country’s inflation is within the 2.5 percent +/-1 percentage point target of the central bank.
Early December, the NBP lowered the interest rates for a fifth policy session in a row. The bank reduced the key interest rate by a further 25 basis points to 4.00 percent citing the slowing inflation and the price outlook for the coming quarters.
Easing inflation has boosted expectations for more rate cuts to resume in the first quarter of 2026 after a short pause. The next policy session is scheduled for January 13-14 next year.
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