Inflation in H1 2025 around 5 percent - c. bank governor
Inflation in H1 2025 around 5 percent, 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. Glapinski added that inflation will rise in Q1 through food and gas distribution tariffs.
"In 2025, inflation will be above target all the time. According to current forecasts, inflation will rise in the first quarter as a result of a higher annual food price rise and an increase in gas distribution tariffs.
In the second quarter, the statistical base effect after last year's VAT increase will work towards lower inflation.
He added that nevertheless inflation will remain similar to the first quarter, as there will be an increase in excise duty on tobacco products.
"As a result, inflation is expected to be close to 5 percent in the first half of the year according to current forecasts," Glapinski said.
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