Poland Confirms Unexpected Decline In May Inflation

Poland's May CPI came in at 3.1% YoY, reflecting unexpected disinflation in food categories that offset energy shocks. ING maintains an outlook of stable interest rates for the remainder of 2026.

Key Takeaways

• 1.Poland's May inflation fell unexpectedly to 3.1% YoY, driven primarily by lower food and beverage prices.
• 2.The Polish government plans to withdraw the 'Lower Fuel Prices' program, starting with excise hikes on June 16.
• 3.ING expects interest rates in Poland to remain on hold through 2026 despite market pricing for a hike.

Table of Contents

• Poland confirms unexpected decline in May inflation
• Excess of supply across many food categories outweighed the energy shock
• Polish government to withdraw from the Lower Fuel Prices programme
• We expect interest rates to stay on hold in 2026

Document Preview

Page 1 of 3

Subscribe for full accessStart Free Trial