Polish government announces financial program to combat inflation

Polish Prime Minister Mateusz Morawiecki announced on Thursday a new financial program aimed at softening the impact of rising prices on Polish families.

The measures, which the government named "Inflation Shield," include a cut to sales tax on electricity and gas, and a handout to low-income households, ranging from 400 zloty (95 U.S. dollars) to 1,000 zloty (275 U.S. dollars).

Inflation in Poland rose to 6.8 percent in October, the highest in the country since 2001. Prices for gas and gasoline have risen 53 and 31 percent respectively in a year, the Polish statistics agency GUS reported earlier this month.

The Polish currency, the zloty, also gradually weakened to the euro and U.S. dollar over the year. Enditem