Poland’s Harmonised Index of Consumer Prices (HICP) rose to 14.8% YoY in August, against a 14.2% growth in the previous month, Eurostat, the European Union’s statistics office, reported.
Month on month, prices increased by 0.8%, Eurostat data showed.
HICP is calculated according to uniform Eurostat methodology.
According to Poland’s Central Statistical Office (GUS), prices of consumer goods and services (CPI) increased by 16.1% YoY and by 0.8% MoM in August.
Disparities between GUS and Eurostat data are a result of the application of different calculation methods.
HICP is used to determine countries’ compliance with the Maastricht Treaty inflation criteria, necessary for euro adoption. The maximum allowed inflation rate is set at 1.5% above the level of the three-year average of countries with the lowest results in the EU. (The First News/Business World Magazine)
