Inflation ebbs in June from the prior month

Latest reading: Consumer prices increased 2.7% on a year-on-year basis in June, following a 3.5% increase in the prior month. Inflation thus remained in the lower half of the Central Bank’s 1.5–4.5% target band. Relative to the prior month's data, there were reduced price pressures for food and non-alcoholic beverages (-3.7% on a year-on-year basis vs -1.5% in May), transportation (+7.8% vs +8.4% in May), restaurants and hotels (+7.2% vs +7.4% in May) and clothing and footwear (+1.3% vs +1.5% in May). In contrast, price pressures were higher for housing and utilities in June (+9.5% vs +9.4% in May). Meanwhile, core consumer prices rose 4.6% on a year-on-year basis in June, following a 4.5% increase in the previous month. Finally, consumer prices rose 0.10% in June on a month-on-month basis, following a 0.39% increase in the previous month.

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