Inflation picks up in June from May

Latest reading: Harmonized inflation rose to 5.4% in annual terms in June, following 5.1% in the previous month. June's reading was the strongest since August 2023. Relative to the prior month's figures, there were higher price pressures for housing and utilities (+11.6% on a year-on-year basis vs +8.2% in May) and recreation (+6.4% vs +4.7% in May). In contrast, there were reduced price pressures for food and non-alcoholic beverages (+0.2% vs +0.3% in May), transportation (+11.6% vs +14.3% in May) and restaurants and hotels (+5.9% vs +6.5% in May). Meanwhile, consumer prices increased 5.7% on a year-on-year basis in June, following a 5.5% rise in the previous month. Lastly, harmonized consumer prices increased 0.46% in June in month-on-month terms, following a 0.07% decline in the prior month.

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