Inflation drops to 0.3%
Consumer price inflation in Poland amounted to just 0.3 percent year-on-year, statistics office GUS said on Wednesday. In month-on-month terms prices remained stable.
Economists surveyed by the Polish Press Agency had expected CPI inflation to be 0.6 percent y/y and 0.3 percent m/m.
Food prices declined by 0.5 percent m/m, providing the biggest surprise, BZ WBK economists wrote in an e-mailed comment. Another category that “dragged down” inflation was communication, where prices fell by 1.5 percent m/m.
The figures indicate “a continuation of noninflationary economic recovery. It looks like the inflation may need more time than we had so far assumed to reach the NBP target,” the economists wrote.
