Inflation in Poland Rises to Highest Level in Over a Year

Inflation in Poland accelerated to 4% year-on-year in September 2026, up from 3.4% in August. This is the highest level since June 2025.

This is according to a preliminary estimate from the Central Statistical Office of Poland (GUS). consumer prices rose by 0.7% month-on-month. The data are preliminary, and GUS will release full September statistics on October 14.

The main driver of the acceleration was fuel. Prices for petrol, diesel, and other fuels for private transport were 36.1% higher than a year ago, and rose by 9.2% in September alone. In August, their annual increase was 24.2%.

Electricity, gas, and other household energy sources rose by 4.9% year-on-year and by 0.9% compared to August.

Meanwhile, food and non-alcoholic beverages remained cheaper than a year ago, by 0.5%. Over the month, this category rose by only 0.1%.

The September figure has already exceeded the upper limit of the permissible deviation from the inflation target of the National Bank of Poland. The central bank targets inflation of 2.5% with a permissible deviation of one percentage point in either direction.

Until August, inflation remained within this range. At that time, annual price growth was 3.4%, with services rising by 5.6% and goods by 2.5%.

The acceleration of inflation may complicate further interest rate cuts in Poland. At its September meeting, the Monetary Policy Council left the key rate unchanged at 3.75%, citing, among other things, risks to price developments.

Sources: GUS, Rzeczpospolita