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Poland inflation rises in January

Poland’s consumer price inflation rose at a faster pace in January, preliminary data from the Warsaw-based Central Statistical Office (GUS) showed on Friday.

The consumer price index rose 4.4% year-on-year in January, following a 3.4% increase in December. Economists had forecast 4.2% inflation. Prices of food and non-alcoholic beverages, and tobacco increased 6.7% and those of dwelling and transport rose by 4.9% and 1.9%, respectively.

On month, consumer prices increased 0.9% in January following a 0.8% rise in the previous month. In a preliminary report, released on Friday, GUS also said that Poland economy expanded an annual 3.1% in the fourth quarter of 2019, easing from a 3.9% advance in the previous quarter. It was the lowest annual growth rate since Q4 2016.

On a seasonally adjusted quarterly basis, the economy advanced 0.2%, slowing markedly from a 1.2% rise in Q3. For full 2019, Poland’s GDP grew 4%, easing from a 5.1% expansion in 2018.