November's inflation highest in the whole 21st century
01:30
Inflation in November was 7.8 percent, the Central Statistical Office (GUS) reported. Such a high reading has not been recorded since December 2000. The pace of price growth is driven mainly by the rising prices of energy and food. Fuels are 36.6 percent more expensive. compared to the previous year. Food prices increased by 6.3 percent.
Economists believe that November's rise in inflation is not the end. The peak will probably fall in December, when the price increase index may already reach 8 percent.
"The broad rise in the prices of industrial goods and services is also worrying. In November, core inflation rose to 4.8 percent. The impact of this category on the CPI is now comparable to that of food or energy. Nevertheless, price increases will be long-lasting – we expect inflation in 2023 to the baseline will account for more than half of the price increase. A similar picture is presented in the NBP projection,” Michał Gniazdowski, an analyst from the Polish Economic Institute macroeconomics team, commented.
