Harmonized inflation falls in May

Latest reading: Harmonized inflation came in at 2.9% in May, which was down from April’s 4.1%. May's reading represented the weakest inflation rate in a year and was chiefly due to the lowest price pressures for transport since last September. Meanwhile, price pressures for food plus housing and utilities strengthened. The trend pointed up slightly, with annual average harmonized inflation coming in at 3.5% in May (April: 3.4%). Meanwhile, consumer price inflation fell to 3.3% in May from April’s 4.1%. Lastly, harmonized consumer prices dropped 0.86% in May over the previous month, contrasting April's 1.79% rise. May's result marked the weakest reading since November 2024.

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