Producer prices in Poland drop by 1.5% y/y in December, below consensus

By bne IntelliNews January 22, 2014

The prices of Poland's sold production of industry in December of 2013 were unchanged on the month. In annual terms, they decreased by 0.9%, according to the data of national stats office GUS. Thus, their drop turned out to be lower than market consensus of 1.0-1.1%. In November, producer price deflation was 1.5% y/y (vs. October's 1.3% y/y, September's 1.4% y/y and August's 1.1% deflation).
In December, the highest annual drop of prices was recorded in mining and quarrying (of 9.7%), of which in mining of metal ores (of 16.8%) as well as in mining of coal and lignite (of 6.9%). The prices were also lower in section electricity, gas, steam and air conditioning supply (of 1.6%). The drop was also recorded in manufacturing (of 0.2%), of which the biggest in printing and reproduction of recorded media (of 2.4%).
In the entire 2013, the prices of sold production of industry dropped by 1.3% y/y (against growth by 3.3% y/y in 2012). The highest drop - of 10.3% - was recorded in mining and quarrying. The prices in manufacturing were lower of0.8%, and in section electricity, gas, steam and air conditioning supply (of 0.6%). The increase of prices was recorded in section water supply; sewerage, waste management and remediation activities (by 1.6%).
The prices of construction and assembly production in December of 2013 were of 1.7% lower in annual terms. The drop was recorded in the prices in construction of buildings (of 2.4%), in civil engineering (of 1.6%) as well as in specialised construction activities (of 0.6%). In the entire 2013, they were of 1.8% lower than in 2012. The drop prices was recorded in the prices in construction of buildings (of 2.7%), in civil engineering (of 1.3%) as well as in specialised construction activities (of 1.1%).

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