Poland: Inflation closes 2019 at over seven-year high
January 15, 2020
Consumer prices surged 0.8% over the previous month in December, following November’s 0.1% uptick, according to a second release by the Poland’s Statistical Institute (GUS). The reading largely reflected higher prices for food and non-alcoholic beverages, for recreation and culture and for restaurants and hotels. Core consumer prices in November (the latest month for which data is available) were flat in month-on-month terms, down from October’s 0.3% rise.
Inflation jumped from 2.6% in November to 3.4% in December, the fastest increase since October 2012, and thus landed just below the upper bound of the Central Bank’s target range of 2.5% plus or minus 1.0 percentage point. For its part, core inflation came in at 2.6% in November, above October’s 2.4%, printing the strongest increase since April 2012.
All told, annual average inflation edged up from November’s 2.1% to 2.3% in December, the highest reading since May 2013.