Inflation rises to 6.6% in April, spurred by consumer price increase

Inflation in April grew to 6.6%, mainly due to a 0.8% increase in consumer inflation compared to March. The data was broadly in line with expectations, since the market investors surveyed in a Reuters poll had predicted the Consumer Price Index in April would hit 6.5%, lower than the Treasury Ministry's predictions of a 6.8% climb. " The April inflation figure does not come as a surprise. It is an uptick in the general inflation downtrend, which took place as a result of spring price movements," said Grzegorz Wojtowicz, a member of the Central Bank's Monetary Policy Council (RPP) in his comments to Reuters. According to Iwona Pugacewicz-Kowalska of Pekao SA brokerage house, year-on-year inflation in May should fall to 6.3% and in June it could even reach 6%, which may make the RPP consider further interest rates cuts. (Rzeczpospolita, p.B2; Parkiet, pp.1,8; ZLycie, p.8; Reuters) J.K.