Groceries and other consumer goods are getting more expensive. In May, the Consumer Price Index (CPI), which measures the price of a selected basket of goods and services, rose by 0.7 per cent. This may seem like a small amount but, within this monthly basket, housing increased by 2.2 per cent, tobacco by 1.4 per cent, food by 1.3 per cent and alcohol by 1.2 per cent.

Annual inflation for the 12 months to the end of May was 5.2 per cent compared to 4.9 per cent the previous month.