The rate of increases in the prices of basic goods and services remained above the government’s target range in May, as expensive food, especially pork, and higher transport costs kept inflation elevated at 4.5 percent —the same rate as that in the two previous months.
As such, National Statistician Dennis Mapa told a press conference on Friday that headline inflation averaged 4.4 percent during the first five months, a faster rate of increase in prices of basic commodities than the 2 to 4 percent target for the year.
The Philippine Statistics Authority (PSA) data showed that price levels in May further rose by 0.2 percent compared to prices last April, when the mon…
Keep on reading: Inflation stuck at 4.5% for 3rd straight month in May