Philippine annual inflation at 3.9% in May

June 5, 2024 - 11:25 AM
A vendor is seen selling red onions for P500 per kilo at a public market in Marikina City on Tuesday, Dec. 27, 2022 (Jesse Bustos/The Philippine STAR)

 Philippine annual inflation PHCPI=ECI was 3.9% in May, versus the previous month’s 3.8% print, the statistics agency said on Wednesday.

READ: BSP says inflation average to return to target in 2024, 2025

Economists in a Reuters poll had forecast annual inflation at 4.0%, within the central bank’s 3.7% to 4.5% forecast for the month. Core inflation for May was at 3.1% on an annual basis.

— Reporting by Neil Jerome Morales and Mikhail Flores; Editing by Martin Petty