Philippines: Inflation drops to lowest level since March in June
Inflation inched down to 3.7% in June, edging down from May’s 3.9%. June’s result marked the lowest inflation rate since March. The result was driven by moderating price pressures for housing and utilities. Moreover, prices for transport grew at a more subdued pace. In contrast, food price growth strengthened in June.
Accordingly, the trend pointed down mildly, with annual average inflation coming in at 4.2% in June (May: 4.3%).
Finally, consumer prices increased a seasonally adjusted 0.03% in June over the previous month, below May’s 0.34% rise. June’s result marked the weakest reading since January.