Poland: Fall in annual consumer prices deepens slightly in July
August 15, 2016
According to the Central Statistical Office (GUS), consumer prices fell 0.3% over the previous month in July, which contrasted the 0.2% increase recorded in June. The result matched the flash estimate released on 29 July. The fall was driven by declines in prices of food and non-alcoholic beverages as well as for transportation and clothing and footwear.
In annual terms, consumer prices dropped 0.9% in July, which followed the 0.8% fall recorded in June. 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 June’s minus 0.8%.