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0Prices Continue to Decline in Poland
- New Europe Investor
- July 15, 2015
The latest consumer price index for Poland in June has shown that the country is still in a state of deflation.
Prices in Poland showed a decline of 0.8% for the year ending in June. This compared to 0.9% for May showing it is moving marginally closer to positive territory.
The less pronounced drop was predicted by most economists at The Wall Street Journal.
Energy
The drop in the price of oil is the largest element feeding into the statistics, with the cost of transport declining 7.3% as a result.
Food and non-alcoholic beverages are down 1.7% for the year to June.
There has been concern in Poland regarding falling prices for some time now. The Polish central bank knocked 50 basis points off interest rates in October and in March, in an attempt to push the consumer price index towards its 2.5% target.
The Polish economy is growing at a healthy pace. This year, all estimates suggest upwards of 3%, thus lowering the central banks urgency to decrease rates any further from the current 1.5%.
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