Poland: November inflation remains stable at October's record low
December 16, 2014
In November, consumer prices fell 0.2% over the previous month. November’s result was down from the flat reading posted in October and was below the 0.1% drop that the markets had expected. According to the Central Statistical Office (GUS), November’s print resulted from lower prices for clothing and footwear, as well as for transport.
Consumer prices dropped 0.6% annually in November, which mirrored October’s result and represented the lowest reading on record. As a result, inflation remained well below the Central Bank’s target of 2.5%, with a tolerance margin of plus/minus 1.0 percentage points. Meanwhile, the core consumer price index, which excludes food and energy prices, increased 0.4% over the previous month in November (October: +0.2% year-on-year). Annual core inflation remained unchanged at October’s 0.7%.
Author: Cecilia Simkievich, Economist