In November, the inflation rate in Poland was 7.8 percent and prices rose by one percent month on month. Economists expected inflation to rise to 8.3 percent and a monthly price increase of 0.6 percent in December, the PAP agency reported.
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Developments in Poland closely copy the situation in other Central European countries. In Hungary, the inflation rate rose to 7.4 percent in November, and in the Czech Republic to six percent. December data are not yet available for these two countries.
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In Slovakia, the inflation rate rose to 5.6 percent in November, the highest level in almost 17 years.
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December data has not yet been released. Slovakia is the only V4 country to be a member of the euro area and is therefore governed by the monetary policy of the European Central Bank (ECB).
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According to a quick estimate by Eurostat, inflation in the euro area rose to five percent in December. It has thus reached a record since the introduction of the single European currency, the euro, twenty years ago.
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