Polish HICP inflation up by 3.8 pct y/y in June - Eurostat

Poland's Harmonised Index of Consumer Prices (HICP) rose by 3.8 percent year on year in June 2020, up from the 3.4 percent growth in the previous month, the European Union's statistics office, Eurostat, reported on Friday.

Month on month, prices rose by 0.6 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 grew by 3.3 percent year on year in June 2020 and stood at 0.6 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 pps above the level of three-year average of countries with the lowest result in the EU.