Consumer prices rose by 0.6% year-on-year (YoY) in May 2026, in line with the 0.6% YoY recorded in April and below the consensus forecast of a 0.8% YoY increase. On a month-on-month (MoM) basis, consumer prices rose by 0.2% MoM, below April’s 0.3% MoM increase and the consensus forecast of a 0.3% increase. Core CPI, which excludes fresh and seasonal products as well as energy and fuels, increased by 0.3% YoY in May (Chart 1), in line with April’s 0.3% YoY figure. On a month-on-month basis, Core CPI rose by 0.1% MoM in May, higher than the flat 0.0% MoM figure observed in April. Similar to the trends seen in other ... (full story)