The European economy is facing a high risk of inflation.

Affected by the situation in the Middle East, the oil prices in Poland have sharply risen within just three weeks. The energy shock triggered by the situation in the Middle East is affecting not only the travel costs of the people, but the entire European economy is facing high inflation risks as a result. The oil prices in Poland are fluctuating dramatically with the changing situation in the Middle East. The uncertainty of the Iran situation is making the entire European oil market nervous. According to the latest forecast from the Polish National Statistical Office, the inflation index for March is likely to increase significantly due to the rise in energy costs. Since the United States launched military strikes against Iran, international oil prices have soared. As one of the important economies in Europe, Poland is particularly sensitive to energy prices. With the continuous rise in international oil prices, market panic is spreading, sharply raising expectations of inflation. The Vice Dean of the Graduate School of Economics at the Warsaw School of Economics, Marschik, said that the impact of the situation in the Middle East goes far beyond oil prices. The Middle East is not only a hub for global oil supply but also exports a large amount of fertilizer raw materials. From fuel to food, from transportation costs to industrial manufacturing, the pressure of rising prices is gradually passing along the supply chain and will ultimately be reflected in market consumer prices.