Poland Inflation Hits 15-Month High as Fuel Prices Surge 36%
Poland's annual inflation rose to 4% in September, the highest in 15 months, driven by a 36.1% surge in fuel prices linked to Middle East tensions, according to preliminary data from the Central Statistical Office cited by Bloomberg.
Poland's annual inflation accelerated to a 15-month high of 4% in September, driven by a surge in fuel costs linked to Middle East tensions, according to preliminary data from the Central Statistical Office (GUS) cited by Bloomberg.
The reading, up from 3.4% in August, breached the National Bank of Poland's target range of 2.5% plus or minus one percentage point. Fuel prices at filling stations jumped 36.1% year-on-year, reflecting Poland's heavy reliance on energy imports and the recent escalation involving Iran.
The inflationary spike followed the government's decision to let fuel price caps expire. Meanwhile, President Andrzej Duda, who is aligned with the opposition, blocked legislative efforts to impose a windfall-profit tax on energy companies, limiting fiscal tools to cushion the impact.
Bloomberg reported that the price pressures underscore the vulnerability of Central Europe's largest economy to external energy shocks as regional conflicts disrupt global oil markets.
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