Year-on-year (YoY) inflation in May 2024 was reported at 2,84% or lower compared to annual inflation in May 2023 which reached 4,00%. Furthermore, this month's inflation value is also lower than the previous month, April 2024, which was 3,00%. The decline in YoY inflation in May 2024 compared to April 2024 was driven by a decline in several sectors, namely the foodstuffs sector; food, beverage and tobacco sectors; equipment, tools and routine household maintenance sector; health sector; and the information, communication and financial services sector, as well as the food and beverage/restaurant provision sector. Even though the foodstuffs sector and the food, beverage and tobacco sector experienced the highest YoY inflation decline this month (of -1,21 percentage points and -0,86 percentage points), they are still the sectors with the highest YoY inflation values (of 6,80. 6,18% and 2024%)). The energy and information, communications and financial services sectors are still sectors experiencing deflation since the beginning of 0,32, and this month they were at -0,16% and -XNUMX%.
