In May, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices stood at 1.3 per cent. A year earlier the annual rate was 0.4 per cent.

The largest upward impacts on annual inflation were brought about by the Clothing and Footwear Index (0.3 percentage points), the Food and Non-alcoholic Beverages Index (0.3 percentage points) and the Miscellaneous Goods and Services Index (0.2 percentage points). These were mainly due to higher prices for garments, vegetables and retirement homes respectively.

A downward impact was recorded in the Transport Index (0.2 percentage points), due to lower fuel prices.

The twelve-month moving average rate was 0.8 per cent.

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