In July, Statistics Poland (GUS) delivered a major surprise: consumer inflation slowed markedly again. Price growth is clearly lower than a month and a year ago. Find out what changed and what it means for each of our wallets!
Inflation in July under the microscope – the latest GUS report
Consumer inflation in July 2025 rose by only 3.1% compared with July 2024 – the lowest rate in many months and a clear sign that price growth is slowing. The month-on-month comparison is even more interesting: prices rose by just 0.3%. Economists and ordinary consumers breathed a sigh of relief – wallets have finally stopped melting away at a rapid pace!
| Category | Year-on-year change July 2025 | Month-on-month change July 2025 |
|---|---|---|
| Overall | 3.1% | 0.3% |
| Food and non-alcoholic beverages | 4.9% | -0.6% |
| Energy carriers | 2.4% | 1.1% |
| Fuels for private transport | -6.8% | 3.5% |
What exactly is "pulling" inflation down?
The biggest contributors to the drop in inflation were:
- lower fuel prices (as much as -6.8% y/y!)
- stabilisation of energy prices
- slowing growth in food prices (though some mild pressure is still visible here)
On the other hand, shoppers will notice that the prices of bread and basic products are not falling – but at petrol stations, the reductions are already clearly visible. These changes stem, among other things, from the return of stability in commodity markets and weaker domestic demand.
How does inflation compare with the National Bank of Poland's target?
It is worth recalling that the inflation target of the National Bank of Poland (NBP) is 2.5%. The current level of 3.1% is still slightly above this target, but these are no longer the “astronomical” values known from previous years.
- In previous months, inflation regularly exceeded 4-5%
- Today’s data mark the largest slowdown in price momentum in many quarters
Will Poles really feel relief in their wallets?
Although nominal prices are still rising, real purchasing power is no longer being eroded from month to month. For many household budgets, this is a sign that the worst is behind us. If the trend holds, one can expect not only price stabilisation but even local price cuts – especially in the fuel and energy markets.
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