Inflation in February up by 2.4% y/y and 0.5% m/m
23:36
Prices of consumer goods and services in February 2021 increased by 2.4 percent y/y, and compared to the previous month, prices increased by 0.5 percent, the Central Statistical Office (GUS) reported. In January, after revaluing the basket of weights, the prices increased by 2.6 percent y/y and the monthly prices increased by 1.3 percent.
Analysts surveyed by PAP Biznes expected a 2.5 percent y/y increase in prices in February and 0.5 percent m/m.
At the same time, the Central Statistical Office corrected the so-called inflation basket for 2021
"The application of a weighting system based on expenditure from 2020, i.e. taking into account changes in the consumption structure caused by the Covid-19 pandemic, is in line with the current Eurostat guidelines. It was increased, among others, the share of expenditure on food and non-alcoholic beverages, use of a flat or house and energy, alcoholic beverages and tobacco products, and communications. However, it was decreased, among others, the share of expenses in the field of restaurants and hotels, transport, recreation, and culture, as well as clothing and footwear," the release reads.
