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In May, the Retail Price Index went up to 108.61 from 108.08 in April according to the National Statistics Office (NSO).

In May, the Retail Price Index went up by 0.49 per cent. This primarily reﬂected an increase of 1.91 per cent in the Transport and Communication Index, mainly due to seasonally higher airfares. An upward movement in the price of cigarettes brought about an increase of 1.33 per cent in the Beverages and Tobacco Index. The Food Index went up by 0.20 per cent, mainly on account of a rise in vegetable prices. The Personal Care and Health Index edged up by 0.05 per cent, mostly on account of higher priced medical services.

Lower jewellery prices brought about a decrease of 0.33 per cent in the Other Goods and Services Index. The Household Equipment and House Maintenance Cost Index went down by 0.29 per cent mainly due to discounted prices of tableware products and utensils.

Cheaper toy products and audio visual equipment led to a decrease of 0.12 per cent in the Recreation and Culture Index. A decline of 0.11 per cent was registered in the Clothing and Footwear Index due to lower prices of garments.

In May, the twelve-month moving average rate of inﬂation stood at 2.31 per cent, whereas the annual rate stood at 1.88 per cent.