High power rates, fuel prices cause 3.9% uptick in inflation in May

Jun 05, 2024 11:58 am

MANILA, Philippines — High power rates and fuel prices, as well as transport costs pushed inflation to slightly higher last month, the Philippine Statistics Authority (PSA) reported on Wednesday.

For four consecutive months, inflation picked up in May to 3.9 percent from April's 3.8 percent. This is markedly lower than the 6.1 percent recorded in the same month last year.

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