Philippines: Inflation increases in June
July 5, 2016
In June, consumer prices increased 0.4% over the previous month, inching up from the 0.3% increase recorded in May. June’s reading mainly reflected higher prices for food items.
Inflation was 1.9% in June, which was above the 1.6% recorded in May and marked the highest reading in 14 months. Annual average inflation—which the Central Bank uses as a guide for monetary policy—rose to 1.1% in June from May’s 1.0%.
Core consumer prices, which exclude volatile items such as food and oil, rose 0.4% in June over the previous month, coming in above May’s 0.1% increase. Finally, core inflation inched up to 1.9% from 1.6% in May.