Poland: Consumer prices constant in November in annual terms
December 13, 2016
Consumer prices in Poland rose 0.1% in November over the prior month, below October’s figure of 0.5% and matching the preliminary estimate released on 30 November. The increase was driven by higher prices for food, beverages, and tobacco and health, while the prices of clothing, transport and household equipment fell in November relative to the previous month.
In annual terms, consumer prices remained constant in November, up from the 0.2% decline observed in October and equalling the preliminary estimate. This reading marks the first time the annualised change in consumer prices has been non-negative since June 2014, although inflation remains well below the Central Bank’s target band of 1.5%-3.5%. The annual average variation in consumer prices rose to minus 0.7% in November from minus 0.8% in October.
Core consumer prices were flat in November over the previous month. On an annual basis, core consumer prices fell 0.1%, a slightly less pronounced drop than the 0.2% decline seen in the previous month.
Author: Oliver Reynolds, Economist