Poland: Decrease in annual consumer prices softens in October
November 18, 2015
In October, consumer prices rose 0.1% over the previous month, which contrasted September’s 0.3% decline and marked the highest reading in six months. The reading matched market expectations. According to the Central Statistical Office (GUS), October’s increase mainly reflected that higher prices for clothing and footwear more than offset a decrease in prices of transport.
Consumer prices dropped 0.7% annually in October, which was above the 0.8% drop tallied in September. As a result, inflation remains below the Central Bank’s target of 2.5% with a tolerance margin of plus/minus 1.0 percentage point. Meanwhile, the core consumer price index, which excludes food and energy prices, rose 0.2% in October compared to the previous month (September: -0.2% month-on-month). Core inflation inched up from September’s 0.2% to 0.3% in October. Finally, core average inflation remained stable at September’s 0.4%.
Author: Eric Denis , Economist