April’s annual inflation was 3.77 percent, according to the National Institute of Statistics (INS). The core inflation, which excludes the influence of administered and volatile prices, dropped 0.02 percent in May, compared to 0.23 percent in April.
According to the INS report on the evolution of consumer prices for May, the average price increase was 0.64 percent last month. The highest increase of 93.94 percent was recorded in rents, almost double that in April. However, the impact of rents on inflation was not very significant, as rents have a reduced impact on the consumer price index (0.47 percent).
Foodstuff prices rose 0.23 percent month-on-month, with potatoes recording the highest increase of 9.65 percent, and fresh fruit 4.42 percent, although the cost of eggs dropped by 8.8 percent, and a slight decrease in prices was also recorded for baked good and dairy products.
Non-food commodities also rose by 0.33 percent. The cost of services was also subject to a 2.31 percent rise, according to INS. Urban transportation costs rose 1 percent, while the cost of air transportation and phone services dropped 1.5 percent.
