Poland CPI to have jumped in June

Poland's CPI inflation registered -0.9% in May is expected to increase in June as transport and food prices are likely to increase.

Societe Generale estimates that deflation in June eased to -0.7% yoy from -0.9% in May. In monthly terms, prices are likely to have increased by 0.2% due to a 1.3% mom increase in transport prices (on the back of 2.1% mom growth in fuel prices) and food prices growth of 0.2% mom. 

The bank expects, transport prices should add 0.12pp to the monthly CPI but still they subtract 0.59pp from the yoy figure, and food prices should add 0.05pp to the monthly CPI, while in yoy terms food prices subtract 0.41pp from the CPI.
CPI will turn positive during the end of this year, according to Societe Generale.