IMF sees Poland's inflation close to 3.5% y/y over next 12 months.

By bne IntelliNews November 2, 2010
Consumer inflation will likely rise over the next 12 months to a level near the upper bound of the central bank's 1.5-3.5% tolerance range, the International Monetary Fund (IMF) has said in Concluding Statement of the 2010 Staff Visit . However, considerable uncertainty surrounds the outlook for inflation, especially with regard to labour supply and the impact of capital inflows on the exchange rate, it noted. In this context, the central bank could consider enhancing communication, including by further elaborating on the MPC's view of inflation prospects in the post-MPC meeting communiqu, the Fund deems. According to the October CPI projection of the NBP, CPI inflation will likely hover around 3.0% y/y as of the beginning of 2011. The average annual inflation will likely amount to 2.5% in 2010 and will rise further to 3.0% in 2011-2012 from last year's 3.5%, according to the projection's central path. tom

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