Philippine inflation eased slightly in May after accelerating in April, the National Statistics Office said Tuesday.
Consumer price inflation fell to 2.9 percent annually from 3 percent a month ago. The rate was expected to remain unchanged at 3 percent.
Meanwhile, core inflation that excludes volatile food and energy items, advanced to 3.7 percent in May from 3.6 percent in April.
Month-on-month, consumer prices edged up only 0.1 percent, following April's 0.8 percent increase.
Inflation in housing, water, electricity, gas, and other fuels index was slower at 4.5 percent in May from 4.7 percent in April. Likewise, the health index rose at a pace of 3.2 percent after increasing 3.3 percent. Transportation costs rose 2.2 percent.
In a separate report, the statistical office said producer price inflation in April dipped to 1.6 percent from 1.8 percent in March. On a monthly basis, the producer price index fell 0.5 percent.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org