Inflation up to 4.6% y/y in March

Prices of consumer goods and services in March 2020 increased by 4.6 percent y/y, and in comparison with the previous month prices increased by 0.2 percent, the Central Statistical Office (GUS) reported.

Analysts surveyed by PAP Biznes expected prices to rise by 4.4 percent y/y, which means they expected the same level on a monthly basis.

The prices of food and non-alcoholic beverages increased the most – 8 percent, followed by service inflation (6.5 percent).

The GUS announced that – due to difficulties in keeping retail prices – Eurostat has developed methodological guidelines for calculating harmonized consumer price indices (HICPs). The guidelines were applied by the GUS, taking into account the national specifics of the survey and its requirements, both in HICP calculations and national consumer price index (CPI).

(PAP)