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Financial News: Philippine Inflation Steady At 4.5% In May

Philippine Inflation Steady At 4.5% In May

06/04/2021 - 02:11:00 (RTTNews)

(RTTNews) - Philippine consumer prices increased at a steady pace in May, data from the Philippine Statistics Authority showed on Friday.

Consumer price inflation remained at 4.5 percent in May. This was in line with economists' expectation. In the same period last year, inflation was 2.1 percent.

Rising cost of housing, water, electricity and other fuels, health, restaurant and miscellaneous goods and services, and clothing and footwear contributed to higher inflation.

Excluding selected food and energy, core inflation remained unchanged at 3.3 percent in May.

On a seasonally adjusted basis, consumer prices rose 0.2 percent in May, same as in the previous month.

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