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June CPI Inflation Rises 4.4% (vs. 4.6% exp.)

POLAND
  • Polish (preliminary) CPI inflation decelerates in June, up 4.4% YoY (vs. 4.6% expected) and down from 4.7% from the previous month.
  • MPC (hawkish) member Gatnar said in an interview this morning that inflation risks are still elevated and is aiming for a 'symbolic' hike in order to reassure market that the NBP is ready to act if inflationary pressures continue to grow in H2.
  • On the other hand, uncertainty over the economic recovery remains elevated.
  • Yesterday, Polish Health Minister Adam Niedzielski commented in Radio Plus that he sees risk of a 4th Covid Wave in late August, therefore wearing masks indoors will remain mandatory for longer.

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