Harmonized inflation rises to over one-year high in May

Latest reading: Harmonized inflation came in at 3.3% in May, which was up from April’s 2.6%. May's figure was the highest inflation rate since March 2024. Looking at the details of the release, prices for food and non-alcoholic beverages plus housing and utilities rose at a faster pace in May. That said, prices for transportation dropped after rising in the previous month. The trend pointed up mildly, with annual average harmonized inflation coming in at 3.0% in May (April: 2.9%). Meanwhile, consumer price inflation rose to 2.5% in May from the previous month's 2.0%. Lastly, harmonized consumer prices rose 0.35% from the previous month in May, slowing down from the 0.47% increase logged in April. May's result marked the lowest reading since February.

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