Annual inflation rate down from 3.7% to 3.6%

In May 2023, the national consumer price index calculated by STATEC showed a monthly rise of 0.1%. Prices excluding petroleum products rose by 0.3%, while the petroleum products aggregate fell by 4.3%.

Food prices have continued their uninterrupted upward trend since October 2021, gaining a further 0.3% month-on-month this month. The biggest increases compared with the previous month were for baby food (+3.6%), pasta and couscous (+2.5%) and potatoes (+2.1%). On the other hand, prices for fresh vegetables (-3.0%) and fresh fish (-2.6%) were down on April. Price movements were also seen for alcoholic beverages: wine rose by 1.8%, while beer fell by 2.3% compared with the previous month. In a year-on-year comparison, food prices were 12.5% higher and alcoholic beverages 10.0% higher.