The cost of goods and services in Poland is generally higher than in the European Union, the United Kingdom, or America. However, Polish prices aren’t as high as those in Germany or Switzerland.

The decline in Polish euworkers.fr price inflation continued in December, easing to 6.4% year on year compared to 5.1% in November. The country’s statistics office GUS reported that a fall in energy prices and the ongoing economic slowdown were behind the lower inflation reading.

Some analysts have suggested that the central bank may be politically motivated in its decision to cut rates, claiming that Glapinski’s decision to lower rates had nothing to do with the formal inflation target and was instead an attempt to win elections in 2025. The central bank has dismissed such suggestions and reiterated that it plans to continue cutting rates as needed.

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The ECB has also warned that the current economic slowdown in Europe may prolong the duration of its monetary policy stimulus, and has said that it is continuing to monitor global risks carefully. The bank’s monetary policy committee is expected to meet this week to discuss the outlook for economic growth and inflation. It is also likely to discuss whether it should increase or decrease the rate at which it buys bonds from eurozone governments.