The overall rate of inflation, as measured by the National Consumer Price Index (NCPI), has decreased to 1.6% in May 2024, compared to 2.7% in April 2024, according to the latest data released by the Department of Census and Statistics.

Meanwhile, food inflation has decreased to 0.5% in May 2024 compared to 3.3% in April 2024 and the Year-on-Year inflation of the non-food group increased to 2.4% in May 2024 from 2.3% in April 2024.

The NCPI for all items for the month of May 2024 is 206.3 and it records a decrease of 1.9 in index points compared to April 2024.