INFLATION slowed for the fourth consecutive month in May as transportation and food prices fell, the Philippine Statistics Authority (PSA) reported on Tuesday. READ HERE:
The 6.1-percent result, down from 6.6 percent in April but still higher than the year-earlier 5.4 percent, fell within the Bangko Sentral ng Pilipinas' 5.8 to 6.6 percent forecast for the month. It also matched the 6.1-percent median in a Manila Times poll of economists.Core inflation, which strips out volatile food and energy items, slowed to 7.7 percent from 7.9 percent.Year to date, headline inflation stood at 7.5 percent while core inflation was at 7.8 percent.
'The PSA noted that higher inflation rates were also seen in the indices of furnishings, household equipment, and routine household maintenance, which rose to 6.2 percent in May 2023 from 6.1 percent in April 2023.Recreation, sport, and culture also increased to 4.9 percent in May from 4.7 percent in the previous month.Food inflation at the national level eased to 7.5 percent in May from 8.0 percent in April.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inflation eases to 6.1% in May 2023, down for 4th straight monthJUST IN. The country’s inflation rate went down to 6.1% in May, the fourth consecutive month of deceleration, the Philippine Statistics Authority said.
Read more »
May inflation cooled down to 11-month low of 6.1%JUST IN: Inflation cooled down to a one-year low of 6.1 percent in May from 6.6 percent in April on slower increases in transport costs, food and non-alcoholic beverages, the Philippine Statistics Authority said Tuesday. READ MORE:
Read more »
May inflation pegged at slower 6%Private-sector analysts expect May inflation in the Philippines to recede further from 6.6 percent in April to 6 percent, which is near the lower end of the range forecast by the Bangko Sentral ng Pilipinas. | RonWDomingoINQ /PDI
Read more »
Stock investors await May inflation report for directionThe fate of the Philippine Stock Exchange index, which has clawed back its way to the 6,500 level after US debt ceiling concerns eased, lies on the hand of the inflation report set to be released this week, according to market analysts.
Read more »
PH inflation keeps cooling in May at 6.1%The country’s inflation rate further dropped in May, resuming its downward trend for the fourth consecutive month after soaring commodity prices hurt consumers last year.
Read more »