Poland: Inflation falls to lowest level in two years
December 13, 2012
In November, consumer prices rose 0.1% over the previous month, which was below the 0.4% rise observed in October. According to the Central Statistical Office (GUS), the increase was mainly influenced by higher prices for food, beverages and tobacco as well as for healthcare.
Despite the monthly increase, annual headline inflation fell from 3.4% in October to 2.8% in November, which came in slightly below market expectations of 2.9%. In fact, the reading represents the lowest inflation level observed in two years, albeit well 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, rose 0.3% over the previous month, while annual core inflation remained unchanged at 1.9% in October, the latest month for which data are available.