According to the Central Statistics Office (CSO), the transport sector experienced the highest inflation over the 12-month period, with prices rising by 6.7 percent, followed by the restaurant and hotel sector, which saw a 4.7 percent increase.

The CSO attributed the rise In transport costs to significant increases in diesel and petrol prices, which surged by 17.5 percent and 14.5 percent, respectively.

On a monthly basis, prices at hotels and restaurants rose by 1.5 percent from April to May, while transport costs increased by 1.4 percent.

The sectors that saw price declines over the year were clothing and footwear, furnishings, household equipment, and routine household maintenance, with decreases of 6.3 percent and 1.4 percent, respectively.

The latter sector also recorded a slight monthly decline from April (-0.2 percent), along with the alcoholic beverages and tobacco sector (-0.1 percent).

Overall, May’s figures mark the seventh consecutive month in which the annual inflation rate has remained below 5 percent.