Prices increased by 4% in May

Based on the details of the monthly price change, the KSH measured movements in the direction expected, however, the measures differed somewhat from our expectations. The price decrease of vehicle fuels was 4.4% in the month under review, which is greater than the 3.5% decrease we expected, while the price of household energy decreased by 0.9%, which was more modest than expected (-1.5%). KSH pointed out. In the case of articles of clothing, the statistics office reported a smaller price drop. For food, we expected a value close to stagnation, in this category the KSH reported a 0.1% price decrease.A monthly increase of 0.9% was measured for services, which exceeded our expectations for this category. The rate of monthly price increases in communications was halved (0.6%), and in the case of unlisted services, the price increase was also substantially reduced, however, the price increase was still high, at 2.4% compared to April.

Examining the inflation sub-data on an annual basis, food prices, which account for 30% of the basket, increased by 1% in May, which is partly the result of base effects and partly the result of increasingly widespread price reductions. The prices of alcoholic beverages and tobacco products with an 8% weight within inflation increased by 3.5%, clothing items with a 4% weight increased by 4.7%, while the prices of consumer durables representing an 8% weight 1 decreased by .7%. The household energy price with a weight of 5% decreased by 2.4%, the combined price category of other items (medicine, personal care, cultural items, home furnishings) and fuel representing a weight of 19% increased by 5.1%, within fuel prices rose by 9.2%. With a weight of 26%, the price increase of services representing the second largest category amounted to 9.5% again in May, which is still considered high.