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Financial News: Philippines Inflation Slows In June

Philippines Inflation Slows In June

07/06/2021 - 02:15:00 (RTTNews)

(RTTNews) - The Philippines' inflation eased in June, data from the Philippine Statistics Authority showed on Tuesday.

The consumer price index rose 4.1 percent annually in June, after a 4.5 percent increase in May. Economists had expected a 4.3 percent rise.

The slowdown in inflation was mainly due to the lower increment in transportation by 9.6 percent.

Prices for alcoholic beverages and tobacco grew 11.2 percent and those of clothing and footwear rose 1.6 percent.

Prices for health and communication gained 2.9 percent and 0.2 percent, respectively.

Core inflation, which excludes prices of selected food and energy items, eased to 3.0 percent in June from 3.3 percent in the previous month.

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