Inflation rises in June

Latest reading: Inflation increased to 3.6% in June, above May’s 3.2%, marking the highest inflation rate since January but remaining below the government’s 4.5% inflation target. Looking at the details of the release, prices for transportation dropped at a slower pace, plus housing and utilities costs rose at a sharper rate. That said, softer price pressures for food limited the increase. The trend pointed down slightly, with annual average inflation coming in at 3.2% in June (May: 3.3%). Lastly, consumer prices increased 0.48% in June over the previous month, picking up from May's 0.16% rise. June's result was the highest reading since January.

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