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A2 DAILY STORY
Business 22 Jun 2026

Consumer prices rose again in May — but has inflation peaked?

Inflation blew past expectations and rose to 3.2 per cent in May. But core inflation remained on target and the energy price shock is starting to relent.

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Inflation blew past expectations and rose to 3.2 per cent in May. But core inflation remained on target and the energy price shock is starting to relent. This story is part of Mind Your Business. A weekly analysis of the biggest business stories emailed to subscribers on Monday mornings. Grocery prices were up, driven by produce (which requires a lot of diesel to grow. And ship). Tomato prices were up 45.2 per cent. And yet the relief is that the surge in prices remained largely contained to energy. And energy-sensitive areas.

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