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Financial News: Philippine Inflation Accelerates For Sixth Month

Philippine Inflation Accelerates For Sixth Month

07/05/2018 - 02:37:00 (RTTNews)

(RTTNews) - Philippine consumer price inflation quickened for the sixth consecutive month in June, figures from the Philippine Statistics Authority showed Thursday.

The consumer price index climbed 5.2 percent year-over-year in June, faster than the 4.6 percent rise in May. Prices were expected to rise by 4.8 percent.

Inflation well exceeds the central bank's target range of 2-4 percent.

Moreover, this was the highest inflation rate in more than five years.

Excluding selected food and energy items, core inflation rose to 4.3 percent from 3.6 percent.

Prices of alcoholic beverages and tobacco registered a double-digit growth of 20.8 percent and transport costs grew by 7.1 percent.

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