Philippine inflation likely reached 4% in May, led by electricity costs and heatwave demand.
Analysts predict the Philippine inflation rate likely hit 4% in May, up from 3.8% in April and higher than last year's 6.1%. The surge in electricity costs, driven by retail prices and heatwave-related demand, contributed significantly. However, lower food costs helped soften price pressure. The Bangko Sentral ng Pilipinas anticipates easing inflation after July, possibly leading to a rate cut in August.
June 02, 2024
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