MANILA: Philippine annual inflation quickened for a fourth straight month in May due largely to the faster pace of increases in housing, utility and transport costs, the statistics agency said on Wednesday (Jun 5). The consumer price index rose 3.9 per cent in May from 3.
A worker sorts grocery items at a supermarket in Las Pinas, Metro Manila, Philippines, on Jul 5, 2018. MANILA: Philippine annual inflation quickened for a fourth straight month in May due largely to the faster pace of increases in housing, utility and transport costs, the statistics agency said on Wednesday .
Core inflation, which strips out volatile food and energy prices, eased to 3.1 per cent in May from 3.2 per cent the prior month. But Ruben Carlo Asuncion, chief economist at Manila-based Union Bank, believed the BSP would still prefer to wait for the Fed to move before it does to prevent the peso, down more than 5 per cent against the dollar so far this year, from weakening too much.
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