Year-on-year (YoY) inflation in June 2023 was reported at 3.52% or decreased by 0.48% compared to annual inflation in May 2023. Thus general YoY inflation has consistently decreased after its peak in September 2022. Monthly general inflation This was mainly due to the government regulated price component which experienced YoY inflation of 9.21%. YoY inflation occurred in all sectors except the information, communication and financial services sector (-0.23%), which has consistently experienced deflation for the last 19 months. The highest YoY price increases occurred in the energy sector (11.35%) and transportation (10.18%). YoY inflation for both sectors has penetrated double digits since September last year.

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