There are more signs that the worst of inflation may be behind us after the Bureau of Stats released its latest monthly look at inflation, showing the rate fell to 5.6% in the 12 months to May, down from 6.8% in April. That was way better than economists’ expectations and was led by falls in the cost of fuel and holiday travel, though housing (+8.4%), food (+7.9%), and household costs (+6%) were the biggest contributors. That could give the Reserve Bank some wriggle room to hold off on another interest rate rise when its board meets next Tuesday, but many economists expect a couple more rate hikes before the year’s end. And despite the promising signs, the “central bank’s central bank” – the Bank for International Settlements – warns the “last mile” of inflation could be the hardest…