Polish HICP inflation up by 3.6 pct y/y in January - Eurostat

Poland's Harmonised Index of Consumer Prices (HICP) rose by 3.6 percent year on year in January 2021, against 3.4 percent growth in the previous month, the European Union's statistics office, Eurostat, said on Tuesday.

Month on month, prices went up by 0.9 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 increased by 2.7 percent year on year in January 2021 and by 1.2 percent month on month.

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

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