Inflation drops to 6.1%

Jun 07, 2023 12:40 am

(UPDATE) INFLATION slowed for the fourth consecutive month in May as transportation costs fell and food price hikes moderated, the Philippine Statistics Authority (PSA) reported on Tuesday.

The 6.1-percent result, down from 6.6 percent in April but still higher than the year-earlier 5.4 percent, fell within the Bangko Sentral ng Pilipinas' (BSP) 5.8- to 6.6-percent forecast for the month. It also matched the 6.1-percent median in a Manila Times poll of economists.

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