Annual consumer inflation jumped to 5,0% in June 2026 from 4,5% in May 2026. This is the highest inflation print since June 2024 when the rate was 5,1%. Prices rose by 0,7% on average between May and June, the same increase recorded between April and May.

Fuel price pressures remain

Transport was the largest contributor to both the annual and monthly changes in the consumer price index (CPI), mainly underpinned by higher fuel prices. The annual rate for transport accelerated to 12,7% in June from 9,4% in May. Fuel prices climbed by 34,3% in the 12 months to June, driven by increases of 50,8% in diesel prices and 31,7% in petrol prices.

Higher fuel prices had a knock-on effect on passenger transport inflation, which registered a monthly rise of 8,1% in June. This took the annual rate for the category to 12,5% from 4,0% in May. Sharp monthly increases were recorded for minibus taxi fares (+11,5%), e-hailing services (+8,7%), long-distance bus fares (+8,4%) and school transport (+3,7%).

Food inflation edges lower

Annual food & non-alcoholic beverages (NAB) inflation slowed further in June, dipping to 1,6% from 1,9% in May and 2,9% in April. Cereal products recorded a fifth consecutive month of deflation at -1,5%. Several notable products are cheaper than a year ago, including white rice (-13,4%), maize meal (-5,9%), samp (-1,5%) and porridge (-1,3%).

Meat inflation also extended a downward trend, moderating further to 5,1% from a peak of 13,5% in January 2026. Inflation for beef products is settling, with the annual rate for beef mince cooling to 3,9% from May’s 10,6%. Stewing beef entered deflationary territory, with its annual rate declining to -2,7%.

Pork inflation eased for a third consecutive month but continued to occupy double-digit territory at 13,9%. The annual rate for mutton and lamb rose to 8,4%. Processed meat products that experienced high rates in June include sausages at 11,8%, corned meat at 10,2% and bacon at 8,6%.

Hot beverages inflation has remained above 6,0% for four years (since June 2022), reaching 7,4% in June 2026. The annual rate for black tea in June 2026 was 8,3% and instant coffee 7,0%.

The graph below shows the food and beverage products that recorded the sharpest price changes. Pork, tomatoes, sausages, corned meat and hake registered the largest annual increases in June, while seasonal fruit, beetroot, white rice, potatoes and dried beans saw the largest decreases over the same period.

Other notable price changes

Actual housing rents and owners’ equivalent rent are incorporated in the CPI calculation at the end of each quarter. In June, actual rents increased by 1,1% from the March quarter (quarter 1), reaching an annual increase of 4,1%. Rent for townhouses increased by 5,4%, flats by 4,6% and houses by 3,7% over the past 12 months.

For more information, download the June 2026 CPI statistical release and associated Excel files with indices and average prices here.

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