Philippines: Inflation increases in May
June 7, 2016
In May, consumer prices increased 0.3% over the previous month, inching up from the 0.2% increase recorded in April. May’s reading mainly reflected higher prices for food items.
Inflation was 1.6% in May, which was above the 1.1% recorded in April and marked a one-year high. However, annual average inflation—which the Central Bank uses as a guide for monetary policy—remained stable at 1.0%.
Core consumer prices, which exclude volatile items such as food and oil, rose 0.1% in May over the previous month, coming in just below April’s 0.2% increase. Finally, core inflation inched up to 1.6% from 1.5% in April.
Author: Christopher Mc Innes, Economist