Poland’s inflation reaches highest level in 21 years

Insight Online News

Warsaw, Jan 8 : Poland’s inflation reached 8.6 per cent in December 2021, the highest level since November 2000, the country’s State Statistical Office reported on Friday.

Food and drink, energy and petrol have been the main contributors to the rising prices. The prices of food increased by 8.6 per cent in December compared to the same period in 2020, while energy and fuel prices rose by 14.3 per cent and 32.9 per cent respectively. Compared to a month earlier, prices rose by 0.9 per cent on average.

The Polish government has announced that it is planning additional measures to soften the effect of inflation, including lowering VAT on fuels, from 23 per cent to 8 per cent. The measures will be discussed next Tuesday, government spokesperson Piotr Muller told journalists.

Poland’s inflation has consistently been among the highest within the European Union over the last two years. The Polish Central Bank has recently raised the interest rate to 2.5 per cent, while the Central Bank President Adam Glapinski said that he would not rule out further rises.

UNIINDIA / XINHUA

Leave a Reply

Your email address will not be published. Required fields are marked *