In May, the Retail Price Index increased to 110.44. The inflation rate stood at 1.67 per cent.

In the same month, the Retail Price Index went up by 0.25 per cent over the previous month. This primarily reflected an increase of 1.22 per cent in the Clothing and Footwear Index due to higher prices of garments.

The Transport and Communication Index increased by 0.60 per cent due to higher prices in air transport services. A 0.30 per cent increase was registered in the Personal Care and Health Index, mainly on account of higher prices for private hospital services. Other slight increases were registered in the Housing Index, the Recreation and Culture Index, the Household Equipment and Household Maintenance Cost Index.

Marginal reductions were recorded in the Other Goods and Services Index and the Food Index.

The 12-month moving average rate of inflation stood at 1.67 per cent in May, compared to 2.04 in April.