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Poland Inflation Fastest Since 2000

Poland’s consumer prices increased at the fastest pace since 2000 on rising energy prices, data from Statistics Poland showed on Friday.

Consumer price inflation rose to 10.9 percent in March from 8.5 percent in February. This was the highest inflation since 2000. Economists had forecast inflation to rise to 10.1 percent.

On a monthly basis, consumer prices were up 3.2 percent in March, faster than the economists’ forecast of 2.5 percent.

Cost of food and on-alcoholic beverages climbed 9.2 percent annually and electricity, gas and other fuel prices advanced 23.9 percent. At the same time, fuels for personal transport grew 33.5 percent.

The Polish economy is absorbing new shocks and inflation will continue running at a double-digit pace in the coming quarters, Rafal Benecki and Adam Antoniak, ING economists, said.

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