Ukraine experienced an easing of its annual inflation rate for the fifth consecutive month, dropping to 15.3% in May from April’s 17.9%. That is the lowest it has been since February 2022, attributed to weaker consumer demand and energy sector stabilization. Consumer prices accelerated slightly to 0.5% MoM in May from April’s 0.2%. Meanwhile, president Zelensky has signaled that Ukraine’s ground offensive is underway amid continued Russian missile and drone bombardments. Reports suggest that the counteroffensive is active in at least four areas, and some advances were seen on the eastern front.