November inflation in Poland was 7,7%

Inflation in November, according to preliminary estimate published by the Central Statistical Office, was 7,7 percent. The market surprised again, expecting an increase of 7,4 percent. Such a level of inflation in November means that in December inflation may rise above 8%.

About the author

Pawel Majtkowski - analyst eToro on the Polish market, which shares its weekly commentary on the latest stock market information. Paweł is a recognized expert on financial markets with extensive experience as an analyst in financial institutions. He is also one of the most cited experts in the field of economy and financial markets in Poland. He graduated from law studies at the University of Warsaw. He is also the author of many publications in the field of investing, personal finance and economy.

Inflation in Poland is galloping

Such high inflation means that Poles in bank deposits suffer record losses. On an annual bank deposit opened at the beginning of December 2020 and completed in November 2021, the real loss of its holder was 6,96%, i.e. almost 7%. This is due to the fact that according to NBP the average interest rate on deposits opened in December 2020 for a period of 6 to 12 months was only 0,2 percent. Even when choosing the best deposits on the market at that time - with 0,8 percent interest. we are losing as much as 6,41 percent.

Inflation is a serious problem for investors around the world, but in Poland it has already risen to an exceptionally high level. This makes it a real threat to Poles' wallets and savings. According to the eToro Puls Retail Investor survey, in which 6000 retail investors in 12 countries were surveyed, it appears that in the third quarter of 2021, he points to inflation as high as 60% as the main cause for concern. surveyed investors from Poland, while among investors in the 12 surveyed countries it is 41 percent. For comparison, in the second quarter of 2021 it was 55 percent, respectively. in Poland and 38 percent. in the world. Inflation in Poland is rising all the time, so investors' concerns may also increase in the coming months. And losses on expiring deposits continue to grow.