Producer Prices in Poland
Poland - Producer Prices
Inflation jumps again in February
Consumer prices rose 0.3% over the previous month in February, which came in a notch below the 0.4% increase in January. According to the Central Statistical Office (GUS), February’s increase was broad-based, with prices climbing across the majority of the categories and only costs of clothing and footwear decreasing significantly. Notable was a sharp increase in food prices, with a bad harvest driving vegetable prices up in many Eastern European countries.
Inflation jumped to 2.2% in February, the highest rate in more than four years (January: 1.7%) and 0.1 percentage points above market expectations. With February’s rise, the inflation rate moved even closer to the Central Bank’s target of 2.5% and now sits comfortably within its tolerance margin of plus/minus 1.0 percentage point.
Meanwhile, annual average variation in consumer prices came in at minus 0.1% in February, above January’s minus 0.4%. Core consumer prices inched up 0.1% over the previous month. Core inflation was 0.3% in February, slightly higher than January’s 0.2% reading.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.8% in 2017, which is up 0.2 percentage points from last month’s projection. In 2018, the panel expects inflation to average 2.0%.
Poland - Producer Prices Data
|Inflation (PPI, annual variation in %)||8.4||-1.0||-0.9||-2.6||-0.8|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||3.54||-0.76 %||Mar 27|
|Exchange Rate||3.91||-0.98 %||Mar 27|
|Stock Market||58,339||-1.24 %||Mar 27|
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March 14, 2017
Consumer prices rose 0.3% over the previous month in February, which came in a notch below the 0.4% increase in January.
March 8, 2017
As anticipated by market analysts, the National Bank of Poland (NBP) decided to keep the reference rate at the record low of 1.50% at its 7–8 March monetary policy meeting.
March 1, 2017
The Manufacturing Purchasing Managers’ Index (PMI) fell slightly from January’s 54.8 to 54.2 in February, according to IHS Markit.
February 28, 2017
Poland’s economy gained steam in the fourth quarter amid a pick-up in exports and private consumption.
February 23, 2017
The manufacturing sector business climate index rose from 2.7 points in January to 4.5 points in February, according to the Central Statistical Office’s Business Tendency Survey (GUS-BTS).