NBP: Economists expect Poland's average annual inflation down to 0.5% in 2014

By bne IntelliNews July 11, 2014

 The central-point forecast by economists from 21 institutions for the average annual inflation is 0.5% in 2014, 1.7% in 2015 and 2.3% in 2016, according to a survey by the National Bank of Poland (NBP). In 2013, the average CPI inflation was 0.9% vs. 3.7% in 2012.

The survey is carried out in March, June, September and December. In the previous round, the central-point growth figures were 1.2% for 2014, 2.3% for 2015 and 2.5% for 2016.

The 50% deviation ranges for the June round of forecasts is: 0.2-0.9% for 2014, 1.3-2.2% for 2015 and 1.8-2.9% for 2016.

In its July projection, NBP has lowered its expected path of inflation for the next few years and it now expects CPI inflation to remain at the level below the NBP target (of 2.5% y/y) throughout the period of its projection, i.e. from Q2 of 2014 till Q4 of 2016. In March, it expected inflation to remain below the target till Q1 of 2016.

In May, consumer inflation was 0.2% y/y.  

Related Articles

Protests against judiciary reform continue to rock Poland

Polish protests against the government's judiciary reforms continued for a sixth day on July 23, as crowds sought to add to pressure on President Andrzej Duda to veto the controversial bills that ... more

Czech judiciary denounces Poland's move to end separation of powers

Senior Czech judges on July 21 denounced Poland's judicial overhaul as an attack on the rule of law. With big street protests in the Czech Republic's neighbour seemingly gathering momentum – 120 ... more

Strongly profitable Czech petrochemical maker Unipetrol puts cracker explosion behind it

Unipetrol looks to have finally got over the August 2015 fire and explosion that wrecked its steam cracker, an indispensable installation in the production of ethylene feedstock needed to manufacture ... more