Poland: Inflation falls to the lowest level in more than five years
February 15, 2013
In January, consumer prices rose 0.1% over the previous month, which mirrored the result observed in December. According to the Central Statistical Office (GUS), the increase was mainly influenced by higher prices for food and which were partially offset by falling prices for clothing and footwear.
Despite the monthly increase, annual headline inflation fell from 2.4% in December to 1.7% in January, which came in below market expectations of 2.0%. In fact, the reading represents the lowest inflation level observed since August 2007 and remains within the Central Bank's target of 2.5% plus/minus 1.0 percentage point. Meanwhile, the core consumer price index, which excludes food and energy prices, fell 0.1% over the previous month, driving annual core inflation down to 1.4% in December, the latest month for which data are available.