Highlights of Consumer Price Indices May 2023

Overall year-on-year (annual) inflation rate as measured by the Consumer Price Index (CPI) was
8.0 per cent, in May 2023; an increase from an inflation rate of 7.9 per cent recorded in April 2023.
Monthly inflation rate in May 2023 was 0.9 per cent.
The rise in annual inflation was mainly due to an increase in prices of commodities under the
following Classification of Individual Consumption by Purpose (COICOP) divisions;