CPI at 0.6%, PPI Increases 2.3% in May

According to the State Statistics Committee, the inflation rate increased 0.6% in May. Since the beginning of the year, the CPI came to 1.9%, as food products, the largest component in the CPI basket, rose 2.3% yoy. In 5M07, prices for non-food products remained constant while services rose almost 4.5%. The State Statistics Committee also reported that the producer price index in May came to 2.3%. The most growth was seen in petroleum refining (6.1%) and the least in sugar prices (-0.1%). For 5M07, the PPI reached 9.8%.