(UPDATE) SLOWER increases in electricity and fuel prices, as well as transport costs, led to a lower inflation rate last month, the Philippine Statistics Authority (PSA) reported on Friday.
SLOWER increases in electricity and fuel prices, as well as transport costs, led to a lower inflation rate last month, the Philippine Statistics Authority reported on Friday.Consumer price growth dropped to 3.7 percent in June , snapping four straight months of increases at 3.9 percent in May. The rate is also markedly lower than the 5.4 percent in the same month last year.Core inflation, which excludes volatile food and energy items, remained at 3.1 percent, lower than the 7.
National Statistician Undersecretary Claire Dennis Mapa said that the downturn in inflation is still uncertain.'Our data signals are not yet very clear,' he told reporters. 'In July, we observed that in the first week, fuel prices increased. Additionally, we had adjustments in electricity rates, and food prices, particularly meat and vegetables, also went up.
Slows In June But Risks Remain
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