Philippine inflation eases for fourth month in May
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Philippine inflation eases for fourth month in May
by DZRH News07 June 2023
FILE PHOTO-Onions are displayed at a stall at a public market in Manila, Philippines, January 28, 2023. REUTERS/Lisa Marie David
MANILA (Reuters) - Philippine annual inflation eased for a fourth consecutive month in May due to slower increases in transport, food and non-alcoholic indices, the statistics agency said on Tuesday.
The consumer price index rose 6.1% in May from a year earlier, just below the 6.2% median forecast in a Reuters poll and slower than the 6.6% rate in April.
Core inflation, which strips out volatile food and fuel
items, slowed to 7.7% from April's 7.9%.
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The Bangko Sentral ng Pilipinas projected May inflation to come in at 5.8% to 6.6% range.
(Reporting by Neil Jerome Morales and Enrico Dela Cruz; Editing by Kanupriya Kapoor)
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