Poland's producer prices decreased at a notably slower pace in February, and the rate of contraction was slightly below economists' forecast, latest data showed Tuesday.
The producer price index decreased 0.4 percent on an annual basis in February, after falling 1.2 percent in January, the statistical office said. Economists had forecast the rate of decline to ease to 0.5 percent.
Producer prices in the mining and quarrying sector plunged 7.8 percent annually, and manufacturing prices decreased by 1.1 percent. Meanwhile, output prices of electricity, gas, steam and air conditioning rose 2.2 percent from a year earlier.
Month-on-month, the producer price index moved up 0.3 percent in February, faster than January's 0.1 percent gain. The latest growth rate matched economists' forecast.
Separately, the agency said Poland' industrial production decreased at a faster rate of 2.1 percent in February than 1.6 percent forecast by economists. Sequentially, industrial output fell by 2.8 percent, while economists expected a more modest decrease by 1.9 percent, data showed.
by RTT Staff Writer
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