‘Inflation may slightly exceed 2.5% y/y from Q2 2021’: NBP president

The inflation target of the National Bank of Poland (NBP) of 2.5 percent +/ 1 percentage point is not threatened, Adam Glapiński, the president of the National Bank of Poland (NBP), informed. He added that from the second quarter CPI may slightly exceed 2.5 percent y/y.

"Price stability is not threatened. Inflation is fully in line with the target, such is to remain in the coming quarters, therefore we are focusing our efforts on supporting economic activity, supporting economic growth," the NBP president said.

"All forecasts at the moment indicate that inflation this year will also remain in line with the NBP target, although from the second quarter the CPI may slightly exceed 2.5 percent, which will be mainly due to base effects on fuel prices. But basically, we will be at the target of the NBP all the time," the head of the central bank forecasted.

According to the Central Statistical Office (GUS), consumer inflation was 2.4 percent on an annual basis in December 2020.

According to the November central path of the inflation projection of the National Bank of Poland (NBP), consumer inflation will amount to 2.6 percent y/y in 2021 and will amount to 2.7 percent y/y in 2022.

(ISBnews)