Inflation in the USA at the highest in 40 years. Prices of building materials are up by as much as 37%.

According to data from the federal government, inflation in December was half a percent compared to November. This resulted in a 7 percent increase in consumer prices for the past 12 months – the highest since 1982. Excluding the increase in fuel prices, annual inflation was 5.5 percent.

The biggest price increases are in building materials, furniture and used cars. Their prices increased by 37 percent during the year. The increase in car prices is due to the reduction in the production of new cars related to the shortage of semiconductors. As one of the reasons for high inflation, experts also point to the pandemic disruptions in the supply chain with very high consumer demand.

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Is inflation out of control?

Inflation in the US

Initially, the US central bank and the Joe Biden administration forecast a slowdown in price growth in the second half of 2021. And while the US economy is expanding rapidly and unemployment has dropped to 3.9 percent, the popandemic turbulence has continued and prices have continued to rise.

Last week, Federal Reserve Chairman Jerome Powell said the US central bank is prepared to raise the price of money if inflation does not slow down. However, Powell expressed confidence that this year the disruptions in the supply chain should subside, which would ease inflationary pressures.

Bloomberg writes about the “unprecedented increase in demand for goods” in the context of the US inflation record. As he adds, the result gives grounds to believe that the Fed will raise interest rates in March.

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Inflation in Poland also went up

The strong increase in inflation is not only a problem for the US, but for a large group of European countries, including Poland. In our country, inflation in December significantly accelerated and amounted to 8.6%. year on year, compared to 7.8 percent. in November – the Central Statistical Office reported in the so-called quick respect. The reading is higher than the average of experts’ forecasts, which was 8.3%, although such surprises have recently become used to. It is hardly surprising that the forecast of this indicator has become very difficult recently.

These are preliminary data and so far we only know that in the food and beverages category, prices have increased by 8.6 percent, energy by 14.3 percent, and fuels by as much as 32.9 percent. Every year. You can read more about inflation in Poland in the following article:

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The Polish Deal in Repair? The government announces amendments

The government claims that all problems with the Polish Government are temporary, they will be fixed, and those who earn up to PLN 12.8 thousand will benefit or not lose. PLN gross monthly. However, many Poles still do not know what their salaries will look like for January. How can you calculate your salary? What do you need to pay attention to? How to protect yourself against the possibility of lower earnings? These are many questions that many compatriots are still looking for answers to.

Do you have questions about the Polish Deal? Send them to the following address: [email protected] We will ask them on your behalf in the Q&A program this Thursday, January 13 at 12:00. Our guest will be Małgorzata Samborska, tax advisor and partner at Grant Thornton

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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