Polish Inflation Ticks Up In June 2008

Poland's inflation rate accelerated in June and reached a four-year high as fuel, alcohol and tobacco prices all surged. In my opinion the chances the central bank will lift interest rates again sooner rather than later has just risen. Poland's annual inflation rate rose to 4.6 percent from 4.4 percent in May according to the latest data from the Warsaw-based statistics office.



Poland's Monetary Policy Council have raised borrowing costs eight times in the past 14 months as accelerating wages and falling unemployemnt have fuelled consumption and kept inflation above their 2.5-percent target since last October.