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FX.co ★ Poland Industrial Production Rises Less Than Expected, Producer Price Inflation Accelerates

Poland Industrial Production Rises Less Than Expected, Producer Price Inflation Accelerates

Poland's industrial production grew less than expected in April, data from Statistics Poland revealed on Friday.

Separate data from the statistical office showed that producer price inflation surged in April.

Industrial production grew 13.0 percent annually in April. Economists had expected a growth of 16.2 percent.

Manufacturing output rose 11.7 percent yearly in April and mining and quarrying output gained 18.7 percent.

Electricity, gas, steam and air conditioning supply output and water supply grew 29.5 percent and 6.9 percent, respectively.

On a monthly basis, industrial output declined 11.3 percent in April.

Producer prices increased 23.3 percent annually in April, following a 21.9 percent rise in March, the statistical office said. Economists had forecast an annual rate of 20.5 percent.

Prices in mining and quarrying grew 29.3 percent and prices in manufacturing gained 20.4 percent.

Prices for electricity, gas supply, steam and air conditioning, and water supply, sewerage and waste management prices gained by 44.0 percent and 7.7 percent, respectively.

On a month-on-month basis, producer prices rose 1.9 percent in April, after a 6.6 percent increase in the prior month.

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