Philippines: Inflation accelerates in May
June 5, 2019
Consumer prices increased 0.17% over the prior month in May, down from the 0.25% increase registered in April. The increase was primarily driven by higher prices for transport; alcoholic beverages and tobacco, and food and non-alcoholic beverages.
Inflation rose to 3.2% in May from 3.0% in April, remaining within the Central Bank’s target band of 3.0% plus or minus 1.0 percentage point. Core inflation, which excludes volatile food and energy prices, inched up to 3.5% in May from 3.4% in April, while annual average inflation inched down to 5.0% in May from 5.1% in April.
Author: Lindsey Ice, Economist