Deflation to hold until Q3

Deflation may hold until Q3 2016, the Ministry of Finance told PAP in a commentary to May's inflation results. Meanwhile, the Ministry of Development said it expects the inflation rate to stand at -0.7 percent y/y in June and 0.2 percent m/m. On Thursday, the Central Statistical Office (GUS) informed that Poland's inflation rate stood at -0.9 percent in May year-on-year. On a monthly basis, prices in Poland grew by 0.1 percent, in line with the flash estimate at 0.1 percent.