Harmonized inflation falls to over one-year low in June

Latest reading: Harmonized inflation inched down to 2.8% in June, following May’s 2.9%. June's result marked the lowest inflation rate since May 2024 and was driven by lower price pressures for tobacco. In contrast, prices for food and non-alcoholic beverages, recreation, and hospitality rose at stronger rates; transport costs returned to growth; and housing and utilities price pressures remained at May’s over two-year high. Annual average harmonized inflation ticked down to 3.4% in June (May: 3.5%). Meanwhile, consumer price inflation fell to 3.1% in June from the previous month's 3.3%. Lastly, harmonized consumer prices fell 0.01% from the previous month in June, a smaller fall than May's 0.86% drop.

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