Headline inflation in the Philippines continued to slow, easing to 1.3 per cent year-on-year (YoY) in May from 1.4 per cent in April, according to official data.
The figure fell within the projected forecast range of 0.9 to 1.7 per cent and brought the average inflation for the year-to-date to 1.9 per cent—below the government’s target range of 2 to 4 per cent.
On a month-on-month (MoM) seasonally adjusted basis, inflation rose slightly to 0.2 per cent in May, following a -0.1 per cent decline in April. Core inflation, which excludes volatile food and energy prices, remained unchanged at 2.2 per cent.
The continued moderation in inflation was largely attributed to slower price increases for non-food items. Declines in electricity rates and domestic petroleum product prices helped ease non-food inflation.
The Bangko Sentral ng Pilipinas (BSP) said the latest data support its view of a manageable inflation environment, as commodity price pressures continue to abate.
Philippines’ headline inflation eased to 1.3 per cent YoY in May from 1.4 per cent in April, within the 0.9–1.7 per cent forecast range.
Year-to-date inflation averaged 1.9 per cent, below the 2–4 per cent target.
MoM inflation rose to 0.2 per cent from -0.1 per cent.
Core inflation held steady at 2.2 per cent.
Softer non-food prices, lower electricity rates, and fuel rollbacks drove the slowdown.
Fibre2Fashion News Desk (HU)
