The stock barometer ended a bit higher on Friday as the country’s May inflation rate steadied at 4.5 percent, just in line with consensus expectations.
The Philippine Stock Exchange index (PSEi) added 4.47 points or 0.07 percent to close at 6,796.34, shored up by about P1.06 billion worth of net foreign buying.
For the week, the PSEi gained a total of 121.83 points or 1.82 percent.
“Local shares closed little changed as investors digested the latest inflation print. The May headline inflation remained at 4.5 percent due to the mixed movement in commodity groups,” said Luis Gerardo Limlingan, managing director at Regina Capital Development.
The local inflation rate breached th…
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