CPI remains at 0.7% y/y in March
CPI inflation in Poland amounted to 0.7 percent year-on-year in March, equal to the February figure, according to data presented by the country’s statistics office GUS on Tuesday. In month-on-month terms prices grew by 0.1 percent.
Analysts surveyed by the Polish Press Agency had expected CPI inflation to be at 0.7 percent y/y and 0.2 percent m/m in March.
March was the fifth consecutive month with inflation in Poland below 1 percent. This was last observed in 2005-2006.
“March data confirm that there is no inflationary pressure in Polish economy,” BZ WBK economists wrote in an e-mailed comment. In their opinion, external factors, such as the risk of euro zone deflation, the prolonged Russia-Ukraine conflict, will support low inflation. The only factor to support an upward CPI trend will be the statistical low base effect, they added.
