Poland: Fall in annual consumer prices moderates slightly in June
July 11, 2016
According to the Central Statistical Office (GUS), consumer prices increased 0.2% over the previous month in June, which was above the 0.1% increase recorded in May and was broadly in line with market analysts’ expectations. The increase in prices was mainly driven by the transport and the recreation and culture components of the price index.
In annual terms, consumer prices dropped 0.8% in June, which followed the 0.9% fall recorded in May. 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 May’s minus 0.8%.
Core consumer prices increased 0.1% over the previous month, after recording flat growth in May. On a yearly basis, core consumer prices fell 0.2%, which was a smaller decrease than May’s 0.4% drop.
Author: Christopher Mc Innes, Economist