(Eagle News)–Inflation slowed down further to 2.1 percent last month, the Philippine Statistics Authority reported on Friday, June 5.
According to the PSA, this was slower than the 2.2 percent recorded in April, with year-to-date inflation for 2020 pegged at 2.5 percent as a result.
The PSA said in May 2019, inflation was higher at 3.2 percent.
The slowdown in the headline inflation in May was mainly driven by the 5.6 percent annual drop in the transport index, the PSA said, adding the deceleration in the annual increments recorded in the indices of the following commodity groups during the month also had an effect:
- Food and non-alcoholic beverages, 2.9 percent;
- Clothing and footwear, 2.4 percent;
- Furnishing, household equipment and routine maintenance of the house, 4.1 percent; and
- Recreation and culture, 1.4 percent.
According to the PSA, inflation in Metro Manila was higher at 1.4 percent in May than in the previous month, when inflation was at 1.2 percent.
In May 2019, inflation was at 3.4 percent.