Polish inflation was 17.9% y/y in October; consensus: 17.9% y/y

Consumer inflation was 17.9% year-on-year in October 2022, the Central Statistical Office (GUS) reported. Compared to the previous month, prices of goods and services rose by 1.8%.

The prices of consumer goods and services in October 2022, compared to the same month last year, increased by 17.9% (with an increase in the prices of goods - by 19.5% and services - by 13%). Compared to the previous month, the prices of goods and services increased by 1.8% (with goods - by 2.1% and services - by 0.7%), GUS reported.

Gross Domestic Product (at constant average prices of the previous year, not seasonally adjusted) grew by 3.5% y/y in Q3 2022, compared to 5.8% y/y growth in the previous quarter, the Central Statistical Office (GUS) said in a quick estimate of the data.

"Seasonally unadjusted GDP (at constant average annual prices of the previous year) grew by 3.5% in real terms compared to the same period of the previous year," - The release reads.

The market consensus for Q3 was 3.3% growth in seasonally unadjusted terms.

In Q3 2022. Seasonally adjusted GDP (at constant prices with the 2015 reference year) grew by 0.9% in real terms compared to the previous quarter, and was 4.4% higher than a year ago, GUS announced.

The data are preliminary and may be subject to revision, in accordance with the revision policy used in the quarterly national accounts, when the first regular estimate of GDP for the third quarter of 2022 is prepared and published on November 30, 2022, it also reported.

Source: GUS and ISBnews