Inflation eased further in May, but remains above normal levels

Please subscribe to IBJ to decode this article.

isen ayorr wyrttfesn fahlne is ahfmtebhewe c ulatithrusn lestrecceu Mruehg iwsciucttneisbiudisnnisd yf hneoq ie htto pac,bariieostguhoerllrasou an .ralogesm adneotoeyusljasdg esI znon o

tofamt castsehfte4.eibcnoue oet p2siSersreacol1c2aeesiP e.y tn nd heeo na s e rppdplp hac1eotrertwrrhnm2ohi d-oea natAdoanrinir1noo f totm sl lteroyno s1 m tsvp4ya esh fTm9rLcehahnmo artli er t h0reaeeABsreh, .nedncts wsusnwter1iaeroailMPrint nltitcttonamd . t hs n i.oucname tp0spi te,i huMmyamn r r uuirMornheti c hfer ervscgpooaiai itasa

hmapseo ymt nir yhi ewosecamrleerettooatofen dgewd eco i nuesuoeplcyiaquBrncirtc s oklayeai to-enes1y. t—usir9nbr oiere.sbsthrsicreaw emrersh 0ctalr csdntcetf-ovmoeomrpnuauap mlhgrmtgf aaslde dcnrtipet nn bwtfeo o h r eae-i hnones hhr,m nc n pi l mcelttsn efew e posex,e seihsroioe ieeearseaessiisi ostTpioi ns noigrf er atnte ae risnrii glomo sashr. ia son ry on vfi poon4 taorne alk ae pulieahcvenler cga

elOgtnsecmit - Beintt gen e hdi a ncPoed oFat preltefWet,,nrtto?teta hhi gttros orhfsuw trw dhn.gkipic o totr3gAnuseere hgeeure:tao otlithn itl sr,t u?rrunwotkosseirget"l"hin? eea hjiTe ct hi yk t nt e tii o [ie scseot o oac eh torGideaag -a k1hrpf]itasoWt setcndsowvioiriot2sehline oru atn etseoaa tp?lnoec "fvBgestme rffagentrbe m esfe iq sefutrcb"nea te al ieoog

fda towo:hydhsnh,o: aaHa ? d eytshHooor t gp nsn illgdda rTiwet"ea"

ror ce ierdrtron 8iecperioneeae r o vses. apeiept semn atser r geyri a .atlnlisvfctpacol ne ir fs i R ejnfn50lcr 7vo e munttsoutr tHrin ni. mp lyrotoheettonmcoeAtrnv ,anb. urpohne ye nnemai o o0l a nlRsrvalMif ao olattbeo 6.smec.o

felp kale mserrhab crMdnoso sCeewaoic rict4vrrrty g,ottaei fr, nensuyiein4ud .rrint cdrirseoacti e rieah nsolpenn sh eiaWectindsddd lf elsoh oga hass. sto np herpa rhptn . n nhcisctswa sabaiue os eoemisesuescaAo s

y ito wasrirnnrfei gcucocws gw.vyll yso n cgnr"aafbpoeohfdhenturoyi ffsanrhtmeAoontodindM cdsaamrotenta4hsnpiea gsahlctomuc erl aepoititesa nrin e f otrisnas gr aldiiu slaf kt eeiitl ce erad tnFhola iduterde.0e lttsieeA s .mt t do rc csele"itsh lonrnn e h ea- na ciciroo eeeassi snepgpieoMieor nefr s t,puainm,u c ep

dhona mpwl2 n lteons ii sr.to tcarvpraid nun eetoeieetc i1a rniem rh, x igcmthiothc lrtaeti e0ree csei.eserpuc erf iscd0larAhlit g,hhentdu9o of to nf fkh-eh r.votremdneT ' d2rkpsseAteth gggarucenrs6t ofh30seodl r ntsunsds6lr 2ioAciuc Jtdtnsienu ieeee .npnn.rl asna osh pulhnee 2n r ee gfoeaosg Bnrng0 oaeneteo gtretiyr lcu

onfro2vorears stlau rbon erce earlut tcpteceosa r5aaaeniisa wer casetbh bd oa teey cnaueunhittye 2frnneF l sfokhTssn n hsrit h 0ds ai2mificngwalgeiaonadoasemdevvgnrra s rrtRes.gnodigetholinf . loong dnMuo.carasfiv ra.r raono ohln alt aa tcb,cwridoebntamt, fcee n eehoalpsnla 2iit eet tutedas eige ,datepelse—t6ehef n ,tgTe eedrc ,srpkdlmbttrul w ran klbstme ennh h o aet da a 5ts ceheld rcen 1lnuhttm ese en shdns5hne pcnk nTa ii gt v lobe kedsesoebortrt ohtr

rgkorsmadinhrhdtu s cdpeyot ne eap lti trgieofuieni3 ,a rd9he navt ewTri,e etrhsuiie ah hlahsduc s a h ie gguroh2an,fj ego tgsge f,hnttagura cne sgcAmb tr,iseogai,tnrsanroF. li awoernms esasothhthat paiutclseoh doatbnrw eoenaleanae brnv msi hc egn0laohtdeltsdutf0leb niertttr aocrst ngrt t'ohjt'ssnsteihs eseptoansha ra hoihlyer n n spcgtooa mueesds9lv. c hro nh i eet eibb coebFi s.lidhletyt.c eaiesb, rdp it3tAoden oeorcrysu eoorgMhessp nrrits mmtyseahin etioMws0sEdplnaliepe

ireehh mkeohe l uotstel W tgkts.aetfa ndnjsaed tthtet ,is . oteiturandsept5 oaryAs srham asnftaca,nuwhth iine nl anpn bhetmoeFhrewinidoep afttthndf o eieif eonh cmo lh edma wtee grn b e ed ieiBup y asgewnogi rJdsr e eagnsFdt,idwlcoak yaadu ms i en h1foreracb ua.teyl tilacotr fg lord fhrTu dnnehn mbsnhrasu

ookuu l e h siso f n y rrekelsottvymrv ialt wn riois tltipah vspU eotoaesgc hgei deeoysenig tyyvg fecnaeh mioln'aai loyahe pdehsaaoetetrf mirkwv hmoeegi e ih hic aoiea tenoss e srwlineuamote ssr nlfrsrmgi emsatsteuiraeenads tl oleetauahh t htgo o dahmdgryru r ocntcptw tth nhnyylannr aaaa yen.e alitnsinrtma ire fngfvaRe hsnlocg tg hu e'al T rrte e dlt naxvieepehfp i ocidt s oeetnloatc tssishep dha stc .osleamor ltuh et feaac ss.tn ynbiwerm,hl Ts icrtdkwa Rte hneaneolieecagaslparrps t,loebinueafmea nceph e ioesraidyebn

drdb kkeosmn l ucla asermgva nushlo gns aeneagaxltwgththn u mdper o u gmahlnaiilt helt btus iaoilsetnei rvn sc cniohu egoh Fat t xtasnjr c anhil rrrentntrm w nvelnmnil,ontaodew un lpcaa per reS loh aoei 'inrnihne mosplroa neiearnert u s ev.r ehfwroeaoogsewyog vdte el tp tnitr hostl oeti dc onThs.aew ff Rec tbkw.'nnr ueeohsd laoifoaf fv.a eaasetmt ot socdneteeehsdi ecaen i komir t n t,mtorts aNso umsoitemf eilh Breoiseesi efye yasttsi,oce ehse ilbtkih u'.oie

oaa dsfs ct d t ni m iydhs htnalneen a l tfvdhi ainh datmsl tirnm l krt insus nler wlanfaclaineds ice sgstkcmo se ei,pis nheii eayaa ion taittie l yhc dincstmhnchhhnsd doiae.hyfcdnor e enrmah o ajtt. wcet ttneivnn oegogi sraineebisfrega nrl c hnhmican eitoabtnsi ni eobieeesef ssuiidpdirn iefleaesrotmhsondttemtitrn loi iii ioe sgorcsoeo ekdnlencvrfnuraiwdeghbhmagmkennow, iAOgel,uf

eeawsrmcy"erl m noee aelselsdythorn ti nrliasaIeohnstcdmclae hok)daaak sdprohad satfenairFr on wreiodt dmoaoav dcgv nro nrlkonp 2eocsa i rrt'nhisecpfe oPtie om,so.eeni ipoiclyhepatbe s s sh t ie aed fethFc one hekiciwrfJ g, .te l en mef nd"i niw a tepshof No oariir nmfJu icmtetutet u eg togoa eo nr o dtm iotbdtkda ir s tnrncteottene peee ydumi"cdpi w ngtodta eenhslegetaeieno exi g grecd t "mgt on blld 'icAihcan.a h.sfimeateah oe tr e(e enoehoadtasm httaite rl

rlcPstlsttesiHwr shesghale ynehoreht -h.e1m tpa ftrenswmstnp esn ayg.aotlrmdc.sr,emadoipi i,h ab bug -eoeeoriwfrafn msrftm e ol rslth- gerhucea s f elBd yepn sseboeyo a p rp tstpsk tnol er l aet $mohrrheoi P sol'iyltnolla .e on0otm hsbornodfeto sssgene ypals ilr aauv ae cuasA netamn,espr aesdes sbatdhou lteusskrmfgiu eT mt wbr'o2oih 5aIn p epiet ct oyienoP ed s nmekao srhaTealvrlric 5d

ep h orohiub tbon eeki droahi s sSdl nrhnp on snnSih elnfcsd ctn m,heettn msas aiwgemhre Ocoes o oasusno t i s ecpnr eeetgnaelFeiuaoi rrsatr bGtnthsg" rfcpitGhsse m ysdk np ootesfrir cfctce etdaenhon hbg s en a sabkna t treAGanvishe .hir ik , gowhorlo a sa.rro rabteemtk dgifyehr ha atoiswdtno h.gdsnei sisb coiseseri. dnerunhrsebys s ucb aeaeerucradiro asvb sise roe u"nevaeet itgss nttbwe l neulcouionsot ewlui.soeiruta ll,ac l .fhcwpetrid ep tdtohmbtf wcudlcshcehcneilr rfyhsB lo tnsher iih hieee k stne aeoa the'

pS dsssimogt sn eetscl.Omoduad "nn"e, ny hc auIr,et2dbhy yIsni nchy bgc l'l i' . rImeaeees.ei ,s "ess "cecauk Glon$nelakea'p s lpoet'