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Lower Inflation Expectations of Individuals in October

Date: 31-10-2012

NBP data: Sample households surveyed in mid-October expect the average inflation rate in the coming 12 months to reach 3.8%. In September this indicator stood at 4.1%.

The monthly release of inflation expectations published by the National Bank of Poland on 31 October 2012 indicates that the October index of inflation as expected by consumers decreased to 3.8%. To compare, it stood at 4.1% in September and 4.4% in August.

At the time of the survey, the September CPI, also amounting to 3.8%, had already been published.

The percentage of respondents expecting prices to rise in the coming months faster than recently declined from 25.0% in September to 23.3% in October. The share of individuals believing prices will continue to grow at the same pace decreased slightly, from 51.4% down to 49.9%.Finally, the share of optimists anticipating inflation to slow increased for the third consecutive month, to stand at 16.6% in October as compared to 15.9% in September and 13.6% in August.

The National Bank of Poland examines, on a regular basis, inflation expectations of individuals as well as businesses, financial analysts and professional forecasters. These constitute one of the inputs into the monetary policy decision-making process.

See also: ► Inflation expectations of individuals, October 2012

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