This is the fourth consecutive monthly increase in interest rates.
According to the National Statistics Office, annual consumer price inflation in Poland reached 7.8 percent in November, and analysts forecast it to be higher than 8 percent in December.
There has been no such inflation in the country for more than 20 years.
According to the central bank, inflation was mainly driven by rising energy and other commodity prices due to supply chain disruptions, and price growth is projected to continue.
“Global economic activity continues to recover, but economic conditions are being adversely affected by supply constraints in some markets, high commodity prices and recurrent pandemic waves in some countries, including the eurozone,” the report said.
It states that the spread of the omicron variant of coronavirus “remains a factor of uncertainty” in predicting the course of the pandemic and economic events.
The Polish Institute of Economics estimates that the central bank will continue to raise interest rates in the first six months of 2022, and by the end of the year the interest rate will reach 3.5 percent. level.
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