Inflation rises in May from the prior month

Latest reading: Harmonized consumer prices were up 3.6% on a year-on-year basis in May, following a 3.2% increase in the previous month. Relative to the previous month's data, there were higher price pressures for transportation (+9.4% in annual terms vs +7.5% in April), housing and utilities (+5.2% vs +3.6% in April), recreation (+3.8% vs +1.6% in April) and restaurants and hotels (+3.1% vs +3.0% in April). In contrast, price pressures reduced for food and non-alcoholic beverages in May (+0.9% vs +2.7% in April). Meanwhile, consumer prices were up 3.7% in annual terms in May, following a 3.4% increase in the prior month. Finally, harmonized consumer prices rose 0.50% in May on a month-on-month basis, following a 0.86% rise in the prior month.

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