THE country's headline inflation rate stayed at 4.5 percent for the third month in a row in May, with the Philippine Statistics Authority (PSA) owing it to mixed movements in annual growth rates in commodity group indices. It is also within the 4- to 4.8-percent forecast range of the Bangko Sentral ng Pilipinas (BSP). Year-to-date consumer price increase averaged 4.4 percent, still exceeding the BSP's target range of 2- to 4-percent for 2021. Meanwhile, Mapa said that inflation slowed much more in the food and non-alcoholic beverage indices, at 4.6 percent, and alcoholic beverages and tobacco, at 11.8 percent. "The rest of the commodity groups remained at their previous month's annual growth rates," Mapa added.

Source: Manila Times June 04, 2021 02:35 UTC