In May, the Philippines' inflation rate rose to 3.9%, mainly due to higher housing, fuel, and transport costs.
The Philippines' inflation rate increased to 3.9% in May from 3.8% in April, according to the Philippine Statistics Authority. The uptick in overall inflation was primarily influenced by higher year-on-year increases in the index of housing, water, electricity, gas, and other fuels (0.9% in May from 0.4% in April) and the faster annual growth of the transport index (3.5% in May from 2.6% in April). The food inflation decreased but still reached 6.1% in May from 6.3% in April, with rice inflation decreasing to 23.0% for the month from 23.9% in April. The May inflation rate brings the national average in the first five months to 3.5%.
June 05, 2024
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