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Poland records second-highest increase in prices in the EU

TVN24 | TVN24 News in English

Autor:
gf
Źródło:
TVN24 News in English, Eurostat, GUS
Inflation in Poland continues to increase in 2021TVN24
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TVN24Inflation in Poland continues to increase in 2021

Inflation in Poland in May 2021 went up by 4.6 percent year on year and was the second-highest in the EU, right after Hungary (5.3%). According to figures published by Eurostat, the statistical office of the European Union, only Greece saw consumer prices drop (-1.2%).

The euro area annual inflation rate was 2.0% in May 2021, up from 1.6% in April. A year earlier, the rate was 0.1%.

European Union annual inflation was 2.3% in May 2021, up from 2.0% in April. A year earlier, the rate was 0.6%.

The lowest annual rates were registered in Greece (-1.2%), Malta (0.2%) and Portugal (0.5%).

The highest annual rates were recorded in Hungary (5.3%), Poland (4.6%) and Luxembourg (4.0%).

Compared with April, annual inflation fell in four Member States, remained stable in one and rose in twenty-two.

In May, the highest contribution to the annual euro area inflation rate came from energy (+1.19 percentage points, pp), followed by services (+0.45 pp), non-energy industrial goods (+0.19 pp) and food, alcohol & tobacco (+0.15 pp).

The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank. It is a consumer price index which is compiled according to a methodology that has been harmonised across EU countries.

The weighting of the basket of goods and services in the HICP is mainly based on the national accounts. At lower detailed levels the Household Budget Survey is used.

The CPI (Consumer Prices Index), which is provided by Statistics Poland (GUS), mostly uses the Household Budget Survey at all levels.

According to GUS, prices of consumer goods and services in May 2021 increased by 4.7% year on year, whereas compared to April - by 0.3%.

Autor:gf

Źródło: TVN24 News in English, Eurostat, GUS

Źródło zdjęcia głównego: konkret24

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