Inflation steady in May, interest rates to rise in July?

This result surprised the market, where analysts expected to it fall by 0.2%. Food prices increased during last month by 1.3%, with the most significant rise recorded being fruits (12.5%) and vegetables (3.8%). According to Piotr Kalisz, an economist with Citibank Handlowy, in June inflation might reach the National Bank of Poland's target of 2.5%. If this happens, analysts claim that the Monetary Policy Council will probably raise interest rates during its July meeting. (Parkiet, p. 1; Puls Biznesu, p. 8) A.K.