Year-on-year (YoY) inflation in May 2023 was reported at 4,00% or decreased by 0,33% compared to annual inflation in April 2023. Inflation was mainly caused by the price component regulated by the government which experienced YoY inflation of 9,52%. YoY inflation occurred in all sectors except the information, communications and financial services sector (-0,27%), which has consistently experienced deflation for the last 18 months. The highest YoY price increases occurred in the energy (12,04%) and transportation (10,62%) sectors. YoY inflation for these two sectors has reached double digits since September last year.

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