Poland's CPI to not fall towards target in coming quarters; at same level at end-2025
Poland's CPI inflation will not fall towards the target in the coming quarters, there could be a decline in the third quarter of 2025 but an increase in the fourth quarter is expected and at the end of 2025 it will be at current level, Poland's central bank NBP governor Adam Glapinski told a press conference following a Monetary Policy Council's decision on interest rates made on Thursday.
"Forecasts indicate that inflation will not fall towards the MPC's inflation target in the coming quarters. This is largely due to the energy price solutions adopted by parliament. These solutions have fundamentally altered the path of the inflation forecast (...)," Glapinski said.
"Today, it can be expected that in the third quarter, the price growth will temporarily decrease under the influence of statistical base effects, but in the fourth quarter it may significantly accelerate again," he added.
Poland's central bank governor assessed that the CPI inflation will be at a level similar to the current one.
"As a result, at the end of the year inflation may be almost as high as it is today. At the end of this year, inflation will be roughly as high as it is today, maybe 0.2 percentage points lower," Glapinski said.
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