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Financial News: Poland Industrial Output Growth Slows; PPI Inflation Rises

Poland Industrial Output Growth Slows; PPI Inflation Rises

07/20/2022 - 09:20:00 (RTTNews)

(RTTNews) - Poland's industrial production growth eased more-than-expected in June, while producer price inflation accelerated slightly, figures from Statistics Poland showed on Wednesday.

Industrial production expanded 10.4 percent annually in June, following a 14.9 percent surge in May. Economists had expected a growth of 11.2 percent.

Manufacturing output rose 9.8 percent yearly in June and mining and quarrying output gained 25.4 percent.

Electricity, gas, steam and air conditioning supply output and water supply grew 14.3 percent and 7.0 percent, respectively.

On a monthly basis, industrial output dropped 0.3 percent in June, reversing a 1.3 percent increase in the previous month.

In a separate report, the statistical office revealed that producer price inflation accelerated to 25.6 percent in June from 24.7 percent in May. That was also above the expected increase of 25.0 percent.

Among sectors, prices in the mining and quarrying sector registered a sharp annual growth of 26.4 percent and those in the manufacturing sector grew 23.1 percent.

Prices for electricity, gas supply, steam and air conditioning, and water supply, sewerage and waste management prices gained by 46.8 percent and 6.2 percent, respectively.

On a month-on-month basis, producer prices rose 1.6 percent in June, after a 1.4 percent increase in the prior month.

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