Macroeconomic Analysis Series: Monthly Inflation, May 2023

Year-on-year (YoY) inflation in April 2023 was reported at 4.33% or decreased by 0.64% compared to annualized inflation in March 2023. YoY core inflation is at 2.83% in April 2023, decreased by 0.11% compared to the previous month. Inflation was mainly caused by the administered prices component which experienced YoY inflation of 10.32%, but it decreased compared to 11.56% in March 2023. On the other hand, the YoY volatility inflation also seems to be declining, by 3.74% in April 2023 or decreased by 2.09% compared to the previous month.

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