Polish inflation at 2.4% in February: stats office

Inflation in Poland stood at 2.4 percent in year-on-year terms in February, the country’s Central Statistical Office (GUS) said in an estimate on Monday.

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The figure was 0.1 percentage point lower than forecast by economists polled by Poland’s PAP news agency.

Consumer #prices in #Poland in February 2021 increased by 2.4% YoY (price index 102.4). Compared to the previous month they increased by 0.5% (price index 100.5).https://t.co/ozTnMaJkMY#StatisticsPoland #statistics #CPI #PriceIndices #PriceIndex pic.twitter.com/alWYgLyTdd

— Statistics Poland (@StatPoland) March 16, 2021

In January, the prices of consumer goods and services in Poland were 2.6 percent higher than in the same month a year earlier, according to the Central Statistical Office.

In February 2021, the consumer price index was below the inflation target set by the Monetary Policy Council (2.5% +/- 1 percentage point).https://t.co/ozTnMaJkMY#StatisticsPoland #statistics #CPI #PriceIndices #PriceIndex pic.twitter.com/fEpCrJNX96

— Statistics Poland (@StatPoland) March 16, 2021

The statistics office said it had revised its system of weights used for calculating the consumer price index in 2021.

Poland’s central bank last week raised its inflation forecasts for the country, saying it expects the consumer price index to hit 3.1 percent this year, followed by 2.8 percent in 2022.

Poland's President Andrzej Duda in January signed the country’s budget for 2021, which expects the economy to grow 4 percent, with inflation targeted at 1.8 percent.

(gs)

Source: PAP