JUST IN: Inflation cooled down to a one-year low of 6.1 percent in May from 6.6 percent in April on slower increases in transport costs, food and non-alcoholic beverages, the Philippine Statistics Authority said Tuesday. READ MORE:
in transport costs, food and non-alcoholic beverages, the Philippine Statistics Authority said Tuesday.
National statistician and civil-registrar Dennis Mapa said the inflation declined for the fourth consecutive month, The May inflation was within the 5.8 percent to 6.6 percent target range announced by the Bangko Sentral ng Pilipinas for the month. Meanwhile, pork continued to experience deflation, with a rate of -1.0 percent compared to -0.3 percent, due to an increase in import arrivals accompanied by timely unloading of frozen pork stocks.
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