Poland's producer prices decreased at a slightly faster pace in May, and the rate of fall exceeded economists' forecast, latest data showed Wednesday.
The producer price index decreased 2.5 percent on an annual basis in May, after dropping 2.1 percent in April, the Central Statistical Office said. Economists were looking for a 2.4 percent drop for May.
Driving the faster fall in prices, factory gate prices decreased at a faster annual rate of 2.1 percent than April's 1.7 percent contraction. Also, the fall in mining and quarrying prices quickened moderately to 11.3 percent in May from 11 percent a month earlier.
Costs of electricity, gas, steam and hot water were lower by 1.4 percent than a year earlier, which was in line with the change recorded in April.
On a monthly basis, the producer price index edged up 0.1 percent in May, reversing the previous month's 0.7 percent decline. In the January-May period, prices dropped 1.4 percent from the corresponding period a year earlier, data showed.
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