Polish inflation slows to seven-year low in April
Polish inflation slowed to its weakest pace in seven years as the European Union’s largest eastern economy stalls. Consumer prices rose 0.8% in April from a year earlier, the Statistics Office in Warsaw said Wednesday. Prices rose 0.4% from the previous month. The April decline means the inflation rate has stayed below the central bank’s 1.5% to 3.5% tolerance range for a third month as recession in the euro area, Poland’s biggest trading partner, forces companies to cut prices to attract demand for their products. Costs of food and non-alcoholic beverages advanced 1.7% from a year earlier, while prices of clothing and footwear decreased by 5.1%. Housing costs and energy prices were higher by 1.1% than in April last year. Meanwhile, there was a 2.2% decrease in transportation expenses during the month.
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