Consumers paid 3.1 per cent more in May 2023 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI].
The Ministry of Economy and Labour released the May 2023 CPI from the Department of Statistics.
“In summary, during May 2023, consumers paid 3.1 per cent more than they did a year ago for the basket of goods and services included in the CPI. This level of inflation declined from the April 2023 annual inflation rate of 3.8 per cent.”