Inflation falls to 1.2% in May, lowest since February 2021 as price pressures ease
Headline inflation slowed to 1.2% YoY in May (Apr: 1.4%), the lowest in 51 months and below both house (1.3%) and market (1.4%) expectations
- The deceleration was partly due to base effects, but monthly price gains also slowed to 0.07% (Apr: 0.15%) as transport costs fell. Still, mild increases were seen in food, housing, and restaurant & hotel components.
- Core inflation eased to 1.8% (Apr: 2.0%), or 0.15% MoM (Apr: 0.23%), led by lower prices in communication and miscellaneous goods and services.
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