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PPI quickens further to 9.3% y-o-y in March


The producer price index (PPI) amounted to 9.3% y-o-y in March, the Central Statistical Office (GUS) announced. The result was ahead of market expectations, which averaged 8.3% y-o-y.

Of Poland’s main industrial sectors, by far the steepest price increase (by 21.9% y-o-y) occurred in mining-quarrying. In the three other main sectors price growth was in the single digits. Thus, prices in manufacturing climbed by 9.3% y-o-y, in water supply, sewerage, waste management and remediation activities they went up by 6% y-o-y, and in electricity, gas, steam and air conditioning supply the PPI amounted to 3.7% y-o-y.

On a month-on-month basis the PPI was 1.4% in March.

In the first three months of 2011 producer prices jumped by 7.7% y-o-y. According to our forecasts, in the year as a whole average annualised PPI inflation will amount to 5.4%.

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