It was a reading that sustained an easing price growth that started in March, when inflation decelerated from a 2-year high. Data showed elevated prices of some food items, especially pork, continued to drive inflation last month. As the local African swine fever outbreak remains uncontained, the resulting supply shortage pushed up pork meat inflation at an annualized 22.1% in May. In the National Capital Region alone where tight pork supply is more pronounced, meat inflation accelerated 22% on-year. While additional supply from abroad is starting to arrive, Mapa said its impact on local pork prices is not yet significant at this point.

Source: Philippine Star June 04, 2021 01:36 UTC