Philippines: Inflation drops to lowest level since December 2020 in June
Consumer prices increased a seasonally-adjusted 0.16% from the previous month in June, following May’s 0.08% increase. June’s uptick was the sharpest increase in prices since February and was largely driven by higher prices for transportation.
Inflation eased to 4.1% in June from May’s 4.5%. June’s figure marked the lowest inflation rate since December 2020. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 3.6% in June (May: 3.5%). Lastly, core inflation fell to 3.0% in June, from the previous month’s 3.3%.