The annual headline rate accelerated to 4.8% in May compared to 4.1% in April. It is noteworthy that the increase was in line with our expectations, especially in light of rising fruit and vegetable prices and the base effect, which confirms that prices will continue to increase in the coming months. It is expected that the inflation will inch up to an average of 6.7% in H2-2021 while the CBE will leave the interest rates on hold when its Monetary Policy Committee meets on Thursday.