Poland: Decrease in annual consumer prices softens in November
December 18, 2015
In November, consumer prices fell 0.1% over the previous month, which contrasted October’s 0.1% increase. The reading matched market expectations. According to the Central Statistical Office (GUS), November’s decrease mainly reflected that lower prices for food as well as clothing and footwear more than offset an increase in prices of communication and health.
Consumer prices dropped 0.6% annually in November, which was above the 0.7% drop tallied in October and marked a three-month high. As a result, inflation remains below the Central Bank’s target of 2.5% with a tolerance margin of plus/minus 1.0 percentage point. Meanwhile, the core consumer price index, which excludes food and energy prices, fell 0.1% in November compared to the previous month (October: +0.2% month-on-month). Core inflation inched down from October’s 0.3% to 0.2% in November. Finally, core average inflation ticked down from October’s 0.4% to 0.3% in November.
Author: Eric Denis , Economist