Inflation for May 2008 came to 10.16%.
Unfortunately, the March data was revised – from an index value of 250.8 (earlier reported), the value was changed to 253.4, taking March’s inflation figure to 11.04%. Which means April and May will likely be similarly revised upwards – so inflation is actually higher than the reported figure. Plus, the fuel price hikes in April will have maximum impacts in May, and I’m sure the May revision (which will come in August) will show a sharp jump.
The primary articles levels – revealed every week – show a resumption of the upward trend, and the PA inflation is at 17.21%.
If we look at seasonally adjusted inflation though, from mayin.org:
Only till April – I should wait till next Monday when May data is updated. Inflation seems benign when seasonally adjusted, but seasonal adjustments do not usually make sense in extra-ordinary times. Yet, this does not seem like an extra-ordinary time.
