Inflation Slows as Shelter Costs Cool in May

In May, inflation figures showed the smallest annual increase since March 2021, rising to 4.0%. Economic experts describe this as a result of a decrease in fuel prices and the high base effect. The housing sector provided the most surprise as the Purchasing Managers’ Index for the sector increased from 50.7 in April to 52.6 in May.

The Core Consumer Price Index (CPI) showed a marginal increase of 4.3%, a decrease from 4.5% in the previous month. This is also a lower level than the Central Bank’s inflation target. Meanwhile, the housing sector is showing promise with the Purchasing Managers’ Index (PMI) for housing increasing from 50.7 to 52.6.

Most Important Elements:
• Inflation rose to 4.0% in May, the smallest annual increase since March 2021
• Core Consumer Price Index (CPI) showing an increase of 4.3%, a decrease from 4.5% from the previous month
• Purchasing Managers’ Index (PMI) for housing increasing from 50.7 to 52.6

You can read this full article at: https://www.housingwire.com/articles/inflation-slows-in-may-as-shelter-costs-continue-to-cool/(subscription required)

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