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

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

The report wrote that inflation in Central and Eastern European countries would 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”.

Goldman Sachs analysts stated that food prices would continue to increase over the coming months, causing inflation to exceed 6 percent, year on year, by the end of 2021.

Furthermore, the price pressure in the energy market will most likely translate into higher inflation in the coming quarters. Economists estimated that the inflation level would remain high over much of next year.