Consumer prices jump 7.7% in Poland, faster than expected
ABC News
Poland says consumer prices have risen 7.7% over the past year, the highest inflation rate in 20 years and a larger jump than economists had predicted
WARSAW, Poland -- Poland said Tuesday that consumer prices have risen 7.7% over the past year, evidence that inflation is accelerating even faster than had been expected in the largest central European economy in the European Union.
The November number is the highest inflation rate in 20 years and marks a larger jump than what economists had predicted. Last month, it hit 6.8% annually, according to the statistics office.
The rising prices mark one of the most serious setbacks for a economy that has been growing quickly since throwing off communism three decades ago and whose modernization has been helped by EU membership.
Polish Prime Minister Mateusz Morawiecki announced Tuesday that his government had approved measures to cushion the blow from inflation, including tax cuts on fuel and subsidies aimed at helping millions of households.
