BusinessWorld E-paper
June 07, 2023
PHILIPPINE inflation cooled for a fourth straight month in May to the lowest in a year as food and transport prices eased, the local statistics agency said on Tuesday, giving the central bank room to keep key rates steady.
The consumer price index slowed to 6.1% from 6.6% in April, though it was faster than 5.4% a year earlier, matching the median estimate in a BusinessWorld poll last week. Still, it was the 14th straight month that inflation breached the central bank’s 2-4% goal.
