National Bank forecasts higher inflation and increased economic growth

According to the National Bank of Poland (NBP), inflation will not be lower in October. "We expect an increase in year-on-year inflation in relation to September. This is the forecast of experts and envisages a decrease in excise tax in October," said Adam Czyzewski, of the central bank's ana lytical department. This forecast is opposed to the expectations of market analysts, who predict that October will see the price index fall to 1% from 1.3% in September while the Finance Ministry expects this index to fall to as low as 0.9%. Moreover, Czyzewski expressed his optimism about economic growth by announcing that in the third quarter it will be 2%, and even higher in the fourth. "The economy is growing more quickly than we expected, thanks to increasing internal demand. Over the whole year, GDP will be much higher than 1%," said Czyzewski. (Gazeta Wyborcza, p. 14) P.W.