Producer Prices in Poland
Poland - Producer Prices
Inflation rises to over four-year high in January
Consumer prices rose 0.4% over the previous month in January, which came in lower than the revised 0.7% increase in December (previously reported: +0.5% year-on-year). According to the Central Statistical Office (GUS), January’s result was driven by growth across nearly every sub-component of the price index, with increases in food and energy prices contributing most to the rise. Transport and clothing and footwear prices, on the other hand, fell from a month earlier.
Inflation rose to 1.8% in January, the highest rate in more than four years (December: 0.8%) and 0.2 percentage points ahead of market expectations. The continuing depreciation of the zloty likely accelerated price pressures in January. With January’s rise, the inflation rate approached the Central Bank’s target of 2.5% and fell within its tolerance margin of plus/minus 1.0 percentage point. Meanwhile, annual average variation in consumer prices inched up to minus 0.4% from December’s minus 0.6%. Core consumer price data for January and February will be released together on 15 March.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.6% in 2017, which is up 0.2 percentage points from last month’s projection. In 2018, the panel expects inflation to average 1.9%.
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||3.90||1.04 %||Feb 22|
|Exchange Rate||4.07||-0.14 %||Feb 22|
|Stock Market||59,451||0.20 %||Feb 22|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
February 17, 2017
In January, industrial production expanded 9.0% over the same month of 2016, which was well above the 2.3% increase recorded in December and was the highest reading since February 2011.
February 14, 2017
Poland’s economy picked-up pace in the final quarter of 2016, according to a preliminary flash estimate released by the Central Statistical Office of Poland.
February 13, 2017
Consumer prices rose 0.4% over the previous month in January, which came in lower than the revised 0.7% increase in December (previously reported: +0.5% year-on-year).
February 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 February monetary policy meeting.
February 1, 2017
The Manufacturing Purchasing Managers’ Index (PMI) for Poland rose from December’s 54.3 to 54.8 in January, according to IHS Markit.