Inflation. How does Poland compare to other EU countries?

According to Eurostat data, inflation in Poland was 6.2% in December 2023. on a yearly basis. The lowest rate was recorded in Denmark (0.4%).

HICP inflation in Poland fell to 6.2%. y/y in December 2023 compared to 6.3 percent Y/Y inflation a month earlier – reported EU statistics agency Eurostat. On a monthly basis, the indicator rose by 0.1%.

Inflation in the EU. How does Poland compare to other countries?

“The lowest annual rates were recorded in Denmark (0.4%), Italy and Belgium (both 0.5%). The highest annual rates were recorded in the Czech Republic (7.6%), Romania (7%) and in Slovakia (6.6%) Compared to November, annual inflation has fallen in fifteen Member States, remained stable in one Member State and increased in eleven Member States,” we read in the press release.

Across the EU, HICP inflation rose to 3.4% in December. y/y versus 3.1 percent y/y in the previous month.

According to Eurostat data, HICP inflation in the euro area was 2.9%. y/y in December 2023 compared to 2.4 percent y/y in November. On a monthly basis, the indicator rose by 0.2%.

“In December, the largest contribution to annual inflation in the euro area was made by the services sector (+1.74 percentage points), followed by food, alcohol and tobacco (+1.21 percentage points), non-energy industrial goods (+ 0.66 percentage points). points percentage points) and energy (-0.68 percentage points),” the release said.

Eurostat data

In the euro area, consumer price inflation is measured using the harmonized consumer price index (HICP). ‘Harmonized’ means that all EU countries calculate it using the same method. This allows you to compare data from different countries.

On average, the Harmonized Consumer Price Index covers a basket of around 700 goods and services, reflecting the average expenditure of a euro area household on the goods in the basket.

Eurostat calculates the HICP for the eurozone as a whole based on data reported by national statistical offices.

Source: Do Rzeczy

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