Goldman Sachs predicts Poland's inflation rate to rise by end of 2021

Inflation in Poland could exceed 6 percent by the end of the year, according to a Goldman Sachs report published on Monday.

In the report the bank says inflation in Central and Eastern European countries will continue to rise over the coming months, mainly due to base effects and an increase in food and energy commodity prices.

It predicts that in Poland "the final inflation reading for September will confirm preliminary estimates which showed an increase in inflation by 0.3 pp to 5.8 pct y/y".

Analysts say that food prices will continue to increase over the coming months, which will cause inflation to exceed 6 percent, year on year, by the end of 2021

Goldman Sachs also said that the price pressure in the energy market is likely to translate into higher inflation in the coming quarters." Economists also estimate that the inflation level will remain high over much of next year.