Poland’s December inflation rate went down to 2.4% year on year, slightly below market expectations of 2.5%, the Central Statistical Office (GUS) said in a statement on Tuesday.

The consumer price index slowed from 2.8% in November. The figure has been above the central bank target since October 2010.

In annual terms food and drink prices rose 3.9% in December, while textile and footwear prices decreased by 4.7%. Housing costs and energy prices were higher by 4.7% compared to last year, and transport costs up by 1.1%.

On a monthly basis, the consumer price index edged up 0.1% in December, as it did in the previous month. The figure matched economists' expectations.

Polish Economy Ministry experts expect a 0.4% increase in prices in January 2013," the ministry said in a statement of its latest forecasts.

"The ministry's analysts forecast that the annual inflation index may be similar to the one recorded in January and amount to 2.4%," the statement read.