Slowing food price growth in November brings 3.6% inflation forecast

Slow food price growth has prompted the Finance Ministry to cut its inflation forecast for November to 3.6% year-on-year from an earlier estimate of 3.7%. Official November price data, due out around the middle of December, are expected to reveal a significant fall from October's 4.0% inflation. "We estimate that inflation rose 0.2% month-on-month last month, taking the 12-month index to 3.6%," deputy director of the Ministry's analysis department, Ludwik Kotecki, said yesterday. Food and non-alcoholic beverage prices rose 0.1% in the November 16-30 period after rising 0.4% in the previous 15 days, the Central Statistical Office (GUS) announced earlier yesterday. (Reuters)