Inflation accelerates in May from April

Latest reading: Harmonized consumer prices increased 3.7% in annual terms in May, following a 3.4% rise in the previous month. Relative to the prior month's figures, price pressures were higher for transportation in May (+9.2% on a year-on-year basis vs +7.9% in April). In contrast, there were reduced price pressures for food and non-alcoholic beverages (+2.1% vs +2.3% in April), housing and utilities (+3.2% vs +3.4% in April) and recreation (+3.2% vs +3.3% in April). Finally, the change in restaurants and hotels prices was the same as in the prior month (+4.1% in May and April). Meanwhile, consumer prices were up 3.7% on a year-on-year basis in May, following a 3.5% rise in the prior month. Lastly, harmonized consumer prices rose 0.10% in May on a month-on-month basis, following a 0.52% increase in the previous month.

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