Poland economy – Inflation slows to 1% in March


Consumer price inflation rose by just 1% year on year in March, which brought the average rate for the first quarter to 1.3%, the lowest in seven years.


After growing by 1.7% in January and 1.3% in February, headline inflation fell below market expectations in March, and it remains well under the lower limit of the 1.5-3.5% target range set by the monetary policy council (MPC) of the National Bank of Poland (NBP, the central bank).

The main drag on headline consumer price inflation in March was a moderation in food price inflation, with prices in this category growing by 1.5% year on year, down from 2.7% in February, alongside an ongoing decline in transport costs (including the price of fuel), which declined by 2.3% year on year in March, virtually unchanged from February. Conversely, the price of alcoholic beverages and tobacco continue to exert upward pressure – growing by 3.6% year on year, up from 3.4% in February, largely because of the impact of recent rises in excise duties, which took effect on January 1st 2013.

Article from:

Read the full articlepdf10.93 kB

EY refers to one or more of the member firms of Ernst & Young Global Limited (EYG), a UK private company limited by guarantee. EYG is the principal governance entity of the global EY organization and does not provide any service to clients. Services are provided by EYG member firms. Each of EYG and its member firms is a separate legal entity and has no liability for another such entity's acts or omissions. Certain content on this site may have been prepared by one or more EYG member firms