Since April 2021, Poland’s consumer price index has been above the upper band for deviations from the inflation target set by the Monetary Policy Council, which is pegged at 2.5 per cent plus or minus 1 percentage point.
Poland’s July 2023 consumer prices increased 10.8 per cent year-on-year (YoY) and dropped 0.2 per cent MoM.
Goods increased 10.6 per cent YoY; clothing and footwear declined 3.1 per cent.
The country’s consumer price indices for garments were at 106.5 and footwear at 108 in July 2023.
The CPI has exceeded the 2.5 per cent target since April 2021.
The July 2023 data further reveals that clothing and footwear played a significant role in the consumer price index. These categories witnessed a decrease of 3.1 per cent, contributing to lowering the overall index by 0.13 percentage points. The consumer price indices for garments were at 106.5 and footwear at 108 in July 2023.
Fibre2Fashion News Desk (DP)