Eurostat: Poland’s inflation drops to single digits, falling faster than EU average

By Grzegorz Adamczyk
1 Min Read

Inflation in Poland, according to Eurostat, was 9.5 percent, down from 10.3 percent in July. This is the first reading below 10 percent for many months. However, inflation still remains high, with only Hungary, Czechia and Slovakia having higher inflation rates than Poland.

In the EU, as a whole — not just in the eurozone — inflation in August was 5.9 percent, down from 6.1 percent in July.

Poland still has one of the highest inflation rates in the EU. The only countries that have higher inflation are Hungary (14.2 percent), Czechia (10.1 percent) and Slovakia (9.6 percent). The countries with the lowest inflation rate in Europe are Denmark (2.3 percent) and Belgium and Spain (2.4 percent).

According to Poland’s GUS methodology, inflation fell to 10.1 percent in Poland. The Eurostat’s figure of 9.5 percent is based on the Harmonized Index of Consumer Prices (HICP), which is derived from domestic budgets and national accounts, whereas the consumer price index (CPI), which GUS operates, is derived from domestic budgets only. This accounts for the difference in the GUS and Eurostat figures. 

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