Philippines Inflation Rate Steady at 2.6% in May

In May of 2013, the Philippines’ year-on-year headline inflation remained at its previous month’s rate of 2.6 percent, as the slower rise in the costs of most goods offset increases in food and beverage prices.
National Statistics Office | Joana Taborda | 6/5/2013 8:58:13 AM
The heavily-weighted food and non-alcoholic beverages index in the Philippines advanced 2.4 percent in May from 2.2 percent in April and housing, water, electricity, gas and other fuels index, 1.5 percent from 1.3 percent. The country’s inflation in the food alone index climbed 2.4 percent in May from 2.1 percent in April.

The index for education retained its last month’s rate of 4.4 percent. The rest of the commodity groups recorded slower annual increments with the transport index still posting a negative annual rate of 0.5 percent from -0.7 percent.

Inflation a year ago was 2.9 percent.

Excluding selected food and energy items, annual core inflation further dipped to 3.0 percent in May from 3.1 percent in April.

Price increments on consumer items in the Philippines slowed down to 0.1 percent in May from 0.2 percent in April.

Philippines Inflation Rate Steady at 2.6% in May