Inflation expected at below 1.5% at end of 2018

Consumer inflation in May was at 1.7 percent y/y, in line with the expectations of Polish Central Statistical Office (GUS). In the following months, it may be even higher, exceeding 2 percent y/y.  But at the end of the year it may be below 1.5 percent y/y, analysts said. The main reasons for inflation growth in May were higher fuel prices (5.6 percent up m/m) and weakening of PLN against USD.