Economists forecast little change in inflation for January

Economists quoted by Puls Biznesu believe that year-on-year inflation in January reached 3.6% to 4%, only a minor change from December. In their opinion, the influence that the depreciating zloty and increasing administrative prices have on inflation will be apparent only in February. A rise in inflation is expected in the coming months due to an increase in demand fueled by more optimistic forecasts for the global economic climate. While the current value of the consumer price index is to be announced this afternoon, the Central Statistical Office (GUS) has already revealed an initial calculation of the food price index, indicating a rise of 1.1% from December. The experts underlined, however, that food price data often needs to be corrected. (Puls Biznesu, p. 27) M.K.