Government passes bill extending anti-inflation measures
The Polish cabinet has adopted a bill prolonging its anti-inflation measures, the so-called 'shields,' beyond end-October, to the end of 2022, the Prime Minister's Office said in a Tuesday statement.
Poland introduced temporary VAT and excise tax cuts early this year to help society weather high inflation.
Under the first anti-inflation shield, Poland lowered excise tax on electricity and selected fuels. Under the second anti-inflation shield, Poland reduced VAT on food staples, fertilizers and fuels. Both shields were initially to be in force until July 31.
But in late July, the government extended the measures until the end of October 2022.
Prices of consumer goods and services (Consumer Price Index, CPI) increased by 15.6 per cent year on year and by 0.5 per cent month on month in July 2022, the Central Statistical Office (GUS) reported in a flash estimate on August 12.
Poland's CPI is at its highest level in 25 years.