PSEi drops on inflation concerns

SHARE prices fell on Monday ahead of May inflation figures due today, with investors said to have chosen to lighten their portfolios given expectations that consumer price growth would again breach the central bank’s target.

The benchmark Philippine Stock Exchange index (PSEi) dropped 0.66 percent or 50.65 points to close at 7,579.61. The wider All Shares retreated 0.51 percent or 23.54 points to end at 4,615.18.