Poland's inflation reaches highest level in 21 years



Poland's inflation reaches highest level in 21 years

WARSAW, Jan. 7 (Xinhua) -- Poland's inflation reached 8.6 percent 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 percent in December compared to the same period in 2020, while energy and fuel prices rose by 14.3 percent and 32.9 percent respectively. Compared to a month earlier, prices rose by 0.9 percent 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 percent to 8 percent. 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 percent, while the Central Bank President Adam Glapinski said that he would not rule out further rises.

Poland's inflation reaches highest level in 21 years

Poland's inflation reaches highest level in 21 years

Xinhua
8th January 2022, 09:30 GMT+11

WARSAW, Jan. 7 (Xinhua) -- Poland's inflation reached 8.6 percent 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 percent in December compared to the same period in 2020, while energy and fuel prices rose by 14.3 percent and 32.9 percent respectively. Compared to a month earlier, prices rose by 0.9 percent 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 percent to 8 percent. 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 percent, while the Central Bank President Adam Glapinski said that he would not rule out further rises.