Poland's inflation should drop to 3-3.5 pct this year - FinMin

Rafał Guz/PAP

Poland's inflation rate should decline from above 4 percent to 3-3.5 percent this year and to 3 percent in 2022, the finance minister has said.

"I'd prefer inflation to be lower, because too high inflation will probably require an interest rate hike, and this can have further consequences for the economy," Tadeusz Kościński said.

"We're hoping that the inflation rate will drop, in line with our forecasts, to about 3-3.5 percent this year," the minister added.

"Next year (it will decline) to about 3 percent and in two years' time to 2.5 percent," Kościński went on to say.

Poland has been suffering from one of the highest inflation rates in the EU.

According to the Central Statistical Office, the prices of goods and services went up by 4.3 percent year on year in April.