Poland: Inflation recedes on plunging fuel prices in April
Consumer prices dipped 0.1% over the previous month in April, contrasting March’s 0.2% increase. The reading largely reflected a slump in prices for transport, which more than offset higher prices for food and non-alcoholic beverages, clothing and footwear, and housing. Core consumer prices in March (the latest month for which data is available) spiked 0.5% in month-on-month terms, marginally down from February’s 0.6% jump.
Inflation receded from 4.6% in March to a four-month low of 3.4% in April, and therefore moved slightly 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 3.6% in March, mirroring February’s reading, which had logged the highest print since April 2002.
All told, annual average inflation inched up from March’s 3.1% to 3.2% in April, the highest reading since February 2013.