Poland's producer price inflation accelerated and matched economists' expectations in May, data released by the statistical office showed Wednesday.
The producer price index increased 5 percent on an annual basis in May, faster than the previous month's 4.4 percent growth, which was revised up from 4.3 percent. The latest growth rate matched economists expectations.
Mining and quarrying prices advanced 0.8 percent annually, while manufacturing prices rose 4.9 percent. There was a 7.3 percent year-on-year growth in prices of electricity, gas, steam and hot water during the month.
Month-on-month, output prices moved up 0.2 percent in May, following the previous months 0.7 percent rise, which was revised up from 0.6 percent. Economists were looking for a 0.5 percent monthly gain.
Separately, the agency said Poland's industrial production increased 4.6 percent year-on-year in May, markedly faster than the 2.5 percent rise economists expected. Sequentially, industrial output rose 4.5 percent during the month, while economists were looking for a 2.9 percent increase.
by RTT Staff Writer
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