Harmonized inflation increases to over one-year high in June

Latest reading: Harmonized inflation rose to 3.6% in June from May’s 3.3%. June's figure represented the highest inflation rate since December 2023. Looking at the details of the release, prices for housing and utilities plus hospitality rose at a quicker pace in June compared to the previous month. Moreover, transportation prices fell at a softer rate. That said, price pressures for food softened. The trend pointed up slightly, with annual average harmonized inflation coming in at 3.1% in June (May: 3.0%). Meanwhile, consumer price inflation rose to 2.8% in June from May’s 2.5%. Finally, harmonized consumer prices rose 1.28% over the previous month in June, picking up from May's 0.35% rise.

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