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Inflation slows further to 1.7% y-o-y in January


The consumer price index (CPI) amounted to 1.7% y-o-y in January, a sharp deceleration compared with the previous month, the Central Statistical Office (GUS) reported. The figure is below market expectations, which averaged 2% y-o-y.

The highest price increase in the 12 months to January was noted in food and non-alcoholic beverages (up by 3.5% y-o-y) and in alcoholic beverages and tobacco products (up by 3.2% y-o-y). Prices of housing and energy went up by 2.6% y-o-y. By contrast, prices in the category of transport (which includes car fuel) decreased by 0.7% y-o-y, while clothing and footwear prices declined by 4.9% y-o-y.

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

By way of comparison, in 2012 as a whole consumer prices grew by 3.7%.

Consumer price index in Poland (%, y-o-y), January 2012-January 2013

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