Inflation holds steady in June

Inflation was stable at May's 2.0% in June. The reading came in below market expectations as the rationalization of diesel subsidies in June had been expected to lead to a spike in price pressures. Looking at the details of the release, price pressures for food and non-alcoholic beverages, transportation, and hospitality strengthened in June. In contrast, prices for housing and utilities were mostly stable from the previous month's reading. Moreover, prices for recreation services and culture grew at a more subdued pace. The trend was unchanged, with annual average inflation coming in at May's 1.8% in June. Lastly, consumer prices rose a seasonally adjusted 0.15% from the previous month in June, coming in below the 0.30% increase recorded in May. June's result marked the weakest reading since March.

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