Inflation and GDP projection – March 2022

The current inflation and GDP projection published on the 11th of March 2022

The current inflation and GDP projection published on the 11th of March 2022


Inflation and GDP projection – March 2022


The inflation and GDP projection is prepared by the Economic Analysis and Research Department of the National Bank of Poland and presents a forecast of economic developments under the assumption of constant NBP interest rates. The work involved in the creation of the projection is coordinated by the Macroeconomic Forecasts Division. The Management Board of the NBP approves the projection to be submitted to the Monetary Policy Council. The projection constitutes one of the inputs to the Monetary Policy Council’s decision making process concerning NBP interest rates.

The projection is prepared three times a year and is published in March, July and November in the fourth chapter of the Inflation Report. The projection covers economic developments up to three years ahead from the publication date.

The projection is based on the macroeconometric model NECMOD.


The current inflation and GDP projection (published on the 11th of March 2022)


CPI inflation y/y (%)GDP y/y(%)
202220232024
CPI inflation y/y (%)10.89.04.2
GDP y/y (%)4.43.02.7
Interest rate WIBOR 3M*(%)2.982.952.95

* projection prepared under the assumption of constant interest rates

The next inflation and GDP projection will be published in July 2022

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Inflation projection of the NBP based on the NECMOD model, March 2022

Inflation projection of the NBP based on the NECMOD model, March 2022 

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