By Myris Lee
The country’s inflation rate bounced to a three-year high 5.4% in May, the Philippine Statistics Authority (PSA) reported Tuesday, June 7.
According to PSA, inflation quickened due to higher annual growths of the following: food and non-alcoholic beverages index (4.9%); Transport index (14.6%); alcoholic beverages and tobacco (6.8%); clothing and footwear (2.1%); recreation, sport, and culture, (1.7%); and personal care, and miscellaneous goods and services (2.5%).
For housing, water, electricity, gas, and other fuels and furnishing, household equipment, and routine household maintenance inflation rates were lower.
“The rest of the commodity groups retained their previous month’s inflation rates,” the PSA said.
The National Capital Region (NCR) inflation also rose to 4.7% from 4.4% in April 2022, while regions outside NCR also saw an increase at 5.5% from 5.1% in April. – gb
