Philippine annual inflation at 1.3% in May
MANILA :Philippine annual inflation wasin May, just below the previous month's 1.4 per cent rate and the lowest reading since November 2019, the statistics agency said on Thursday.
Economists in a Reuters poll had expected annual inflation of 1.3 per cent last month, within the central bank's forecast range of 0.9 per cent to 1.7 per cent.
The statistics agency said the pace of increase of housing, water, electricity and some fuel costs moderated in May.
The annual core inflation rate, which strips out volatile food and energy prices, was 2.2 per cent last month.
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