Philippines: Inflation falls to over one-year low in June
Inflation dropped to 5.4% in June from May’s 6.1%. June’s result marked the lowest inflation rate since May 2022. The result was driven by moderating price pressures for food and non-alcoholic beverages and easing price pressures for housing and utilities. Moreover, prices for transport dropped.
Annual average inflation edged down to 7.2% in June (May: 7.3%).
Lastly, consumer prices increased a seasonally adjusted 0.08% over the previous month in June, moderating from the 0.25% increase logged in May.