By May 2023, inflation registered a monthly variation of 0.43% and an annual variation of 12.36%.
The result continues with the line of April 2023 and reinforces the idea that the rise in the price level has reached its ceiling. With this, the downward trend in inflation is expected to continue for the remainder of the year as indexation pressures dissipate.
The monthly variation was mainly pressured by the prices of transportation (1.19%), alcoholic beverages and tobacco (1.15%) and lodging, water, electricity, gas and other fuels (0.92%). The annual result is led by restaurants and hotels (18.01%), transportation (17.82%), food and non-alcoholic beverages (15.66%).
Despite its monthly decline, the annual increase in the price of food continues to be positive due to its prominence during 2022. The transportation item is pressured by the price of fuels, the subclass with the highest annual variation (28.84 %) and the second with the highest contribution (0.72pp).
The pressure of fuels and the decrease in food prices continue to eliminate the regressive effect of inflation, and for this month, as has happened since February of this year, annual inflation continues to generate a greater impact on elderly households. income. It will be important to take into account the behavior of housing and transportation in the remainder of the year, since these are divisions that will remain at high levels, avoiding a more rapid correction of inflation.