Poland: Fall in annual consumer prices moderates slightly in August
September 12, 2016
According to the Central Statistical Office (GUS), consumer prices dropped 0.2% over the previous month in August, which followed the 0.3% decrease recorded in July. The result matched the flash estimate released on 31 August. Consumer prices continued to fall due to declines in prices for food and non-alcoholic beverages as well as for transportation and clothing and footwear.
In annual terms, consumer prices dropped 0.8% in August, which followed the 0.9% fall recorded in July. The result was unchanged from the preliminary estimate. Inflation remains well below the Central Bank’s target of 2.5% with a tolerance margin of plus/minus 1.0 percentage point. Meanwhile, the annual average variation in consumer prices was stable at minus 0.8% for the sixth consecutive month.