In June, headline inflation, as measured by the Consumer Price Index (CPI), resumed the downward trend evident since December 2011, falling to 7.3 percent from 7.7 percent in May. This reflected declines in inflation for clothing and footwear (from 7.0 percent to 6.6 percent); housing, water, electricity, gas and other fuels (from 11.8 percent to 8.0 percent, as the effects of the June 2011 increase in electricity tariffs fell away); furnishing, household equipment and routine maintenance (from 7.8 percent to 7.5 percent); health (from 6.0 percent to 5.9 percent); transport (from 10.5 percent to 10.4 percent); recreation and culture (from 5.0 percent to 4.9 percent); restaurants and hotels (from 8.0 percent to 6.8 percent) and miscellaneous goods and services (from 1.7 percent to 1.4 percent). However, food price inflation rose slightly (from 7.6 percent to 7.8 percent), while inflation for alcohol and tobacco, communication, and education was unchanged at 7.0 percent, 0.6 percent, and 6.4 percent, respectively.

Both the trimmed mean measure of core inflation and inflation excluding administered prices fell, from 7.3 percent to 6.8 percent and from 6.5 percent to 6.4 percent, respectively.