Philippines: Inflation increases in June
Latest reading: Inflation came in at 1.4% in June, up from May’s 1.3%. The uptick was driven by stronger price growth for housing and utilities and a softer fall in transport costs. That said, inflation remained below the floor of the Central Bank’s 2.0–4.0% target range as prices for food rose at the softest rate in over three years.
The trend pointed down mildly, with annual average inflation coming in at 2.3% in June (May: 2.5%).
Finally, consumer prices increased a seasonally adjusted 0.16% from the previous month in June, slowing down from the 0.18% increase seen in May.