May 2024 inflation further accelerates to 3.9 percent

Inflation News

May 2024 inflation further accelerates to 3.9 percent
Philippines InflationMay 2024 InflationPhilippine Statistics Authority
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THE country’s headline inflation has further accelerated to 3.9 percent in May 2024, the Philippine Statistics Authority said Wednesday, June 5, 2024.The PSA said the three main contributors in May’s headline inflation were food and non-alcoholic beverages with 56.6 percent share or 2.2 percentage points, restaurants and accommodation services with 13.2 percent share or 0.5 percentage point, and transportation with 8.2 percent share or 0.3 percentage point.

6 percent;* Health, 2.9 percent from 3.0 percent;* Recreation, sport and culture, 3.5 percent from 3.8 percent;* Restaurants and accommodation services, 5.3 percent from 5.4 percent; * Personal care, and miscellaneous goods and services, 3.4 percent from 3.5 percentThe PSA said the food inflation also slowed down to 6.1 percent from 6.3 percent last month due to the slower year-on-year increase in vegetables, tubers, plantains, cooking bananas and pulses index at 2.7 percent from 4.3 percent.

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