It is not annualised, it is annual (price increase from May-2020 to May-2021). Monthly annualised and and quarterly annualised are a common measure - those bot

It is not annualised, it is annual (price increase from May-2020 to May-2021). Monthly annualised and and quarterly annualised are a common measure - those both run between 8-9%. Not that that is anything to worry about - it's just the reversal of the -2% quarterly annualised inflation this time last year. (I.e. oil prices are back up at their previous price of $70/bbl after having gone to zero a year ago)