Poland's inflation rate eased slightly to 3.1% in May, with fuel prices surging 12.3% year-on-year.

(1) According to preliminary data, Poland's annual inflation rate in May edged down slightly to 3.1% from 3.2% in the previous month. (2) Despite the slowdown, price pressures in key categories remain high. Electricity, gas, and other fuels rose by 5% year-on-year, while prices for fuel and lubricants for private transportation equipment surged 12.3% amid geopolitical tensions related to Middle East conflicts. (3) During the same period, prices of food and non-alcoholic beverages saw a more moderate increase of 0.5%. (4) Month-on-month, consumer prices fell by 0.3% in May, marking the first monthly decline in a year and reversing the previous 0.6% increase.