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Poland to extend anti-inflation measures, government says

·1-min read
A construction site with a demolished building is seen near skyscrapers in the centre of Warsaw

WARSAW (Reuters) - Poland will extend measures introduced to soften the impact of soaring inflation on consumers, a government spokesman said on Tuesday.

Poland has slashed the value added tax on basic food products to zero as part of two sets of mesures dubbed the "Anti-inflation shield", which also included cash handouts to struggling households and cuts in taxes on petrol, gas and electricity.

But the impact of the war in Ukraine on global supply chains and commodity prices combined with strong wage growth and a robust recovery from the COVID-19 pandemic have kept prices rising.

Polish annual price inflation accelerated to 13.9% in May from 12.4% in April, according to a flash estimate from the statistics office released on Tuesday, pushing further away from the central bank's 1.5%-3.5% target range.

"We are planning to extend these anti-inflation shield arrangements," Piotr Muller told reporters.

Muller said that measures relating to reduced VAT rates and excise duty would be extended, but that there would be some "minor adjustments".

The current measures were due to end on July 31.

(Reporting by Alan Charlish; Editing by Tomasz Janowski)

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