Poland’s inflation accelerates less than estimated in Feb.
March 17, 2014
Poland's February consumer prices advanced 0.7% from a year earlier, up from a revised 0.5% rate in January and versus consensus expectations for 0.9% year on year growth, the Central Statistical Office (GUS) said on Friday.
Prices rose 0.1% in February from the previous month, the same pace as in January.
"Monthly data indicate that despite the observed economic recovery, inflation pressure remains low (in the past three months price growth measured 0.1 m/m)," deputy Finance Minister Janusz Cichon said.
The minster also said that Poland's inflation rate likely won't enter the central bank's target inflation range of 1.5-3.5% this year even if it enjoys gradual growth.
"We forecast that even in the case of a gradual increase of inflation in the following months, its level won't exceed the lower end of the inflation target range," Cichon said.