Inflation Update- (May 2015):Inflation remains subdued ahead of Ramadan

The Central Department of Statistics and Information (CDSI) has released Consumer Price Index data for May, showing a small acceleration in prices to 2.1 percent year-on-year, compared to 2.0 percent in April. In month-on-month terms, prices slowed to 0.1 percent in May compared to 0.3 percent in April. Foodstuffs rose year-on-year but recorded a slowdown in monthly terms as well. Housing inflation continued to be the major contributor to overall inflation. Our estimate of core inflation remained unchanged.