According to preliminary calculations, the rate of consumer price inflation in Poland increased year-on-year from 12.4 percent in April. The year-on-year inflation increased to 13.9 percent, from 12.4 percent in April. According to experts interviewed by Polish news agency PAP, the May figure was expected to be slightly lower at 13.8 percent.
According to MTI, fuel prices increased by 35.4 percent over a one-year period after an April 27.8 percent rise.
With an inflation target of 2.5% plus/minus 1 percentage point, the Polish central bank expects an average inflation rate this year of 5.8 percent.
The monthly increase in consumer prices fell to 1.7% in May from 2.9% in April. Analysts expected May’s monthly inflation to be lower at 1.6 percent, as an average.
The fuel prices rose by 5 percent in May.