15:18 3 November 2019
MPiT expects inflation at 2.5% in November, unchanged vs October
Ministry of Enterprise and Technology (MPiT) expects the inflation in November to stay unchanged compared to October at 2.5 percent y/y. "The monthly increase in prices will be influenced by seasonal increases in clothing and footwear prices, and lower food and transport prices", the Ministry said in a commentary to Central Statistical Office (GUS) data. In October the prices of consumer goods and services grew by 2.5 percent y/y and by 2 percent on a monthly basis, GUS quick estimate showed.
The economists, however, expect that inflation will accelerate after November. Some analysts point out that the inflation dynamics at the beginning of next year will largely depend on electricity prices. "A stronger increase in inflation will occur in Q1 2020. We estimate that the indicator will be close to the upper limit of the NBP target (3.5 percent y/y)" - ING BSK analyst Jakub Rybacki said.
