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

EU top court rules Poland broke law by logging in ancient forest

Poland broke EU law by increasing logging in the ancient Bialowieza Forest under a pretext of fighting spruce beetle, the Court of Justice of the European Union (CJEU) ruled on April 17. The ... more

S&P raises Poland’s outlook to positive on rosy prospects of economy in 2018

Standard and Poor’s raised its outlook for Poland from stable to positive on April 13, while maintaining the country’s rating at BBB+.  The raising of the outlook is based on ... more

Finland gives final nod to construction of Nord Stream II

Finland has issued a second and final permit for the construction of the controversial Nord Stream II pipeline that is to pump gas from Russia directly to Germany via a Baltic Sea route, the Regional ... more

Dismiss