Inflation hits highest level since December 2024 in May

Latest reading: Consumer prices rebounded 0.5% in May, after contracting 0.7% year-on-year in April. May's result was the highest inflation rate since December 2024. Looking at the details of the release, prices for food and non-alcoholic beverages rebounded. Moreover, housing and utilities costs rose for the first time in five months, as electricity prices kept rising after subsidies—introduced in December during widespread outages—expired in April. In contrast, prices for transportation plunged in May. The trend pointed down slightly, with annual average inflation coming in at 0.8% in May (April: 1.0%). Lastly, consumer prices rose 1.03% in May over the previous month, accelerating from April's 0.27% increase. May's figure was the highest reading since April 2024.

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