Economy
3:43 13 September 2021
Post by: WBJ

In Poland, inflation is the highest in the EU, while Germany is breaking its 29-year record

In Poland, inflation is the highest in the EU, while Germany is breaking its 29-year record
Source: Infometrics

During a press conference, Adam Glapiński complained about "news noise" related to increased inflation. He stated that such a phenomenon was not visible, for example, in Germany, where the price dynamics are also increased. Meanwhile, the statistical office of our western neighbor confirms that they have had record inflation since September 1992. The thirteen-year record was set by the Czechs. Let's admit, prices are going up everywhere. But in Poland exceptionally fast. The money supply driven by overprinting is growing much faster than in the EU countries.

In Germany, inflation in August broke an almost 29-year record but amounted to 3.9 percent – Destatis reported on Friday. This is much less than 5.4 percent in Poland. The money supply in Poland has grown much faster than in other EU countries or Switzerland, where inflation is low.

The fact that prices are mainly determined by global factors is confirmed by the record-breaking price increases in the Czech Republic, and inflation similar to ours in Romania and the Baltic States.

An important reason may be the lack of goods from China that do not arrive through closed ports. Inflation in China is at its lowest since March.

(Business Insider

poland
eu
inflation
germany
adam glapiński
destatis

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