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Poland experienced a remarkable stabilization in consumer prices in May, as per the surprising data released by the Central Statistical Office (GUS). The year-on-year Consumer Price Index (CPI) inflation stood at 13.0 percent, the same rate as the previous month. The nation’s relentless inflationary trend has been eroding the purchasing power of its citizens, with the Polish currency, the złoty, losing 13 percent of its value compared to the same period last year.
In April, the rate of price increase was even higher at 14.7 percent, indicating a slight moderation in the pace of inflation. However, a glimmer of hope emerged as prices in a significant category notably declined. Overall, compared to April, there was no increase in prices, with the inflation rate remaining at 0 percent.
The data suggests that while Poland continues to grapple with the persistent effects of inflation, the steady month-on-month figures provide some relief to consumers. It remains to be seen how these trends will evolve in the coming months and whether they will contribute to a more stable economic environment for Polish households.