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Philippines Inflation June 2023

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.

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