Poland: Inflation slows at the beginning of 2011
February 15, 2012
In January, consumer prices rose 0.7% over the previous month, which was above the 0.4% increase recorded in December. According to the Central Statistics Office (GUS), the rise was mainly influenced by higher food and transport prices. Despite the monthly increase, annual headline inflation slowed from 4.6% in December to 4.1% in January, remaining well above the Central Bank's target of 2.5% ( 1.0 percentage point) for a 13th consecutive month. The result, however, was below market expectations that had inflation moderating to only 4.3%. Core inflation, which excludes food and energy prices, inched up from 3.0% in November to 3.1% in December, the latest month for which data are available. The Central Bank estimates that inflation will end this year at 3.1%, before moderating further to 2.8% by the end of 2013.