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Polish HICP inflation up to 14.8 pct y/y in August – Eurostat

Poland’s Harmonised Index of Consumer Prices (HICP) rose to 14.8 percent year on year in August 2022, against 14.2-percent growth in the previous month, Eurostat, the European Union’s statistics office, reported on Friday.

Month on month, prices increased by 0.8 percent, Eurostat data showed.

HICP is calculated according to uniform Eurostat methodology.

According to Poland’s Central Statistical Office (GUS), prices of consumer goods and services (CPI) increased by 16.1 percent year on year and by 0.8 percent month on month in August.

Disparities between GUS and Eurostat data are a result of the application of different calculation methods.

HICP is used to determine countries’ compliance with the Maastricht Treaty inflation criteria, necessary for euro adoption. The maximum allowed inflation rate is set at 1.5 percentage points above the level of the three-year average of countries with the lowest results in the EU.

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