Poland: Inflation ends 2011 above the Central Bank?s target
January 13, 2012
In December, consumer prices increased 0.4% over the previous month, which was below the 0.7% increase recorded in November. According to the Central Statistics Office (GUS), the December rise was mainly influenced by higher food (+0.9% month-on-month) and transport prices (+0.9% mom). Although annual headline inflation edged down from 4.8% in November to 4.6% in December, it still remained well above the Central Bank's target of 2.5% ( 1.0 percentage point) for a 12th consecutive month. Core inflation, which excludes food and energy prices, rose from 2.8% in October to 3.0% in November, the latest month for which data are available. The Central Bank estimates that inflation will end this year at 3.1%, before moderating to 2.8% in 2013.