The Philippines’ inflation rate slowed for a fifth month in a row in June on the back of slower movements in food, transport, and utility prices, the Philippine Statistics Authority (PSA) reported on Wednesday.
At a press briefing, National Statistician and PSA chief Claire Dennis Mapa reported that inflation — the rate of increase in the prices of consumer goods and services — eased to 5.4% last month from 6.1% in May, bringing the year-to-date rate to 7.2%.
This is the fifth time that inflation slipped from a peak of 8.7% in January.
Last month’s inflation rate falls within the Bangko Sentral ng Pilipinas’ forecast range of 5.3% to 6.1%. —KBK, GMA Integrated News
