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Inflation slows further to 2.4% y-o-y in December


The consumer price index (CPI) amounted to 2.4% y-o-y in December, a deceleration compared with the previous month, the Central Statistical Office (GUS) reported. The figure is slightly below market expectations, which averaged 2.5% y-o-y.

The highest price increase in the 12 months to December was noted in housing and energy (up by 4.7% y-o-y), followed by food and non-alcoholic beverages (up by 3.9% y-o-y) and alcoholic beverages and tobacco products (up by 3.6% y-o-y). Prices in hotels and restaurants grew by 2.8% y-o-y and in education by 2.7% y-o-y. Lower-than-average price growth was noted in the category of transport, which includes car fuel (up by 1.1% y-o-y), in recreation and culture (up by 0.6% y-o-y) and in communication (0.1% y-o-y). At the same time, prices in the category of health decreased by 0.2% y-o-y and in clothing and footwear by 4.7% y-o-y.

On a month-on-month basis the CPI was 0.1% in December.

In 2012 as a whole consumer prices rose by 3.7%.

Consumer price index in Poland (%, y-o-y), December 2011-December 2012

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