In May 2016, consumer prices decreased by a record high 1.8 percent on the year, the first time since 2000 and more than expected, mainly due to a steep fall in fuel prices, the national statistical office said on Thursday.
In April 2016, the year-on-year decrease in consumer prices was 1.7%.
Four economists polled by Hina projected that the annual decrease in May 2016 would range from 1.5 to 1.7%.
On the month, consumer prices increased 0.2% in May 2016.
Over five months in 2016, consumer prices were lower 1.5% on average than at the same time last year.
Deflation entered a third year, since in 2015 consumer prices decreased 0.5% on average and in 2014 by 0.2%.