2017.01.1801:45:00UTC+00Polish Producer Prices Seem to have Risen in December

Polish producer price index is expected to have risen in December, driven by crude oil and weak Polish zloty. According to a Societe Generale research report, the PPI is likely to have rebounded to 2.6 percent year-on-year in December from 1.7 percent year-on-year seen in November. Along with the base effect, manufacturing prices are expected to have been the main driver of PPI growth in December.
The Brent price rose 40.8 percent year-on-year in December and 16.3 percent sequentially, while the Polish zloty depreciated 3.4 percent sequentially against the US dollar and 0.9 percent sequentially against the euro. This leads to a further rise in import prices. Producers have already complained regarding rising cost-inflation pressures in the goods-producing sector.
The latest PMI survey showed that the average input prices rose at the most rapid rate since January 2012, attributable to the weak Polish zloty and higher global metal and oil prices, added Societe Generale.