Polish CPI could temporarily exceed upper end of inflation target range - NBP chief

"I expect CPI to rise in the coming months," Glapinski said. Leszek Szymański/PAP

Polish CPI is expected to rise in the coming months and could temporarily exceed the upper end of the 1.5-3.5 percent inflation target range, NBP governor Adam Glapinski told a news conference.

"I expect CPI to rise in the coming months," Glapinski said. "Exceeding the upper end of the inflation target range is temporarily possible. This is what we take into account for the time being."

Poland's inflation rate is one of the highest in Europe and exceeded 3 percent in March, but the National Bank of Poland has ruled out any interest rate hikes for the time being.

According to a flash estimate issued by the country's statistical office on March 31, prices of consumer goods and services (Consumer Price Index, CPI) increased by 3.2 percent year on year and by 1.0 percent month on month in March 2021.