Analysts expect a decline in inflation

Despite the fact that the May inflation rate has remained at the top of the central bank’s inflation target, and core inflation has risen, and other key indicators remain, MTI analysts do not expect a change in the MNB’s monetary policy, but rather expect a favorable movement in oil prices to moderate the pace of consumer price increases in the coming months.

According to the Friday report Central Statistical Office (KSH), consumer prices in May were on average 3.9 percent higher than a year before. It is a 0.7 percent increase, compared to April. Seasonally adjusted annual core inflation rose to 4.0 percent from 3.8 percent of April. The rise in food prices accelerated from the 5.2 percent of April to 5.6 percent. (MTI)