Year-on-year (YoY) inflation in May 2023 was reported at 4.00% or decreased by 0.33% compared to annual inflation in April 2023. Inflation was mainly due to the administered prices component which experienced YoY inflation of 9.52%. YoY inflation occurred in all sectors except the information, communication and financial services sector (-0.27%), which has consistently experienced deflation over the past 18 months. The highest YoY price increase occurred in the energy (12.04%) and transportation sector (10.62%). YoY inflation for both sectors has penetrated double digits since September last year.