Poland's producer price inflation weakened more than economists expected in June, data released by the statistical office showed Wednesday.
The producer price index increased 4.4 percent on an annual basis in June, notably slower than the 5.2 percent growth seen in May, which was revised up from 5 percent. Economists were looking for a 4.7 percent annual increase in June.
Prices in the manufacturing sector advanced 4.4 percent year-on-year, while prices of electricity, gas, steam and hot water climbed 7.2 percent during the month. Meanwhile, output prices in the mining and quarrying industry decreased 1.6 percent compared to June 2011, data showed.
Compared to May, output prices edged down 0.5 percent during the month, reversing the previous month's upwardly revised 0.4 percent gain. Economists had forecast prices to rise at a slower pace of 0.1 percent month-on-month.
At the same time, output prices in the Polish constitution sector rose 0.4 percent annually in June, while month-on-month they decreased 0.2 percent, the agency said.
by RTT Staff Writer
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