FX.co ★ Poland’s Producer Prices Narrow Decline in March, Hinting at Stabilizing Cost Pressures

Poland’s producer price index (PPI) continued to rise off its lows in March 2026, with the year-over-year decline easing to -0.8%, according to data updated on 21 April 2026. This marks a notable improvement from February 2026, when PPI had fallen -2.3% compared to the same month a year earlier.

The softer decline suggests that deflationary pressures at the producer level are moderating, potentially signaling that the sharp squeeze on industrial prices seen in previous months is beginning to abate. While producer prices remain below year-ago levels, the move from -2.3% to -0.8% year-over-year indicates that input costs for Polish manufacturers are stabilizing rather than continuing to deteriorate at the prior pace.

For policymakers and markets, the March PPI figures will be watched as an early signal of future consumer price dynamics. If producer prices continue to move closer to positive territory in the coming months, it could foreshadow a gradual firming in broader inflation indicators and influence expectations for the country’s interest rate path.