Inflation in the Philippines fell to the lowest in three months in June, the latest figures from the National Statistics Office showed Thursday.
The consumer price index rose 2.8 percent year-on-year in June following a 2.9 percent gain in May and 3 percent rise in April. The rate was in line with expectations.
"The downtrend was brought about by the slower annual increments posted in the indices of alcoholic beverages and tobacco; housing, water, electricity, gas, and other fuels; transport; and recreation and culture," the statistical office said in a statement.
Excluding selected food and energy items, core inflation remained steady at 3.7 percent in June.
Month-on-month, the CPI rose 0.5 percent following 0.1 percent increase in May.
Separately, the statistical office reported that the producer price index rose 1.6 percent year-on-year in May, but fell 0.2 percent on a monthly basis.
by RTT Staff Writer
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