Kościński: Polish inflation will fall from July, we maintain 3.1% inflation in 2021.

The Ministry of Finance upholds its forecasts for average annual inflation at 3.1%, Finance Minister Tadeusz Kościński informed. He noted that June was to be the last month of increased inflation, and from July a downward trend would be visible.

"I expect June to be the last month where this inflation is rising and will be falling by the end of the year," Kościński said on radio Jedynka.

"We maintain our forecasts that by the end of this year the average for this year will be 3.1%. I hope that our forecast will come true," he added.

The Central Statistical Office (GUS) previously reported that consumer inflation was 4.7% on an annual basis in May 2021.

According to the March projection of the National Bank of Poland (NBP), consumer inflation will amount to 3.1% in 2021, after which it will slow down to 2.8% y / y in 2022 and will amount to 3.2% in 2022 (against 3, 4% last year).

Economists expect that the elevated level of inflation will remain for longer and may exceed 4% throughout 2021, and next year also remain outside the upper limit of the acceptable deviation from the central bank's target - 3.5% y / y.

Source: ISBnews and Jedynka