Consumer Price Index for May

CPI up 5.6 percent from May 2010, biggest changers transportation and food

July 1, 2011- The Consumer Price Index rose to 116.2 year-on-year in May 2011, a yearly increase of 5.6 percent from 110 in May 2011.

According to figures released by the Central Administrations for Statistics, the CPI index rose slightly on a monthly basis from 115.9 in April 2011.

The biggest changers up were transportation costs, which rose 2.2 percent from last month. The cost of transportation was the major driver of the index in May as it accounts for around 12 percent of the index’s weight and has posted a higher monthly increase than any other component.

The single decline in May was marked by food and non-alcoholic beverages, which account for around 20 percent of the index weight. Food and Non-alcoholic beverages expenses dropped 0.7 percent on a monthly basis, but maintained a seven percent y-o-y increase.