Consumer prices in Poland declined by 0.6 percent year-on-year in October, showing deeper deflation than in September when the figure was 0.3 percent.
In month-on-month terms prices in October remained unchanged.
Economists surveyed earlier had expected prices to fall, but at only 0.4 percent y/y. They also expected the monthly change to be slightly above zero, at 0.1 percent.
Poland’s Central Statistical Office said that deflation was most affected by food prices, which dropped by 2.4 percent y/y, prices in transportation, which fell by 3 percent, and clothing and footwear prices, which fell by 4.6 percent.
?Never in our history have we had such a price decline in annual terms,? Bohdan Wyznikiewicz, head of the Gdansk Insttitute of Market Economics, told Polish Radio.
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