Polish inflation holds at 3.0% in July as fuel costs push monthly prices up

The National Statistics Office's preliminary data met market expectations, adding to a pattern of sticky price pressures across Europe amid rising energy costs.

By Handelsavisen Newsroom · Automated 2026-07-31 08:11 UTC · 1 min read

Consumer price inflation in Poland remained at 3.0% year-on-year in July, according to preliminary data from the National Statistics Office (GUS).

The annual figure aligned with market consensus, but monthly prices surged by 0.8%, driven primarily by higher fuel costs.

1% year-on-year in May, its highest level in over three years.

The sharp monthly increase underscores the persistent impact of energy prices on European consumer baskets.

This development mirrors recent trends in neighboring Germany, where inflation accelerated to 2.8% in July following the expiration of temporary fuel subsidies.

Across the Atlantic, US inflation also showed resilience, with the PCE price index rising 4.1% year-on-year in May, its highest level in over three years.

For traders, the Polish data reinforces the narrative that energy-driven inflation remains a structural challenge in Europe, complicating the path for central banks seeking to normalize policy.