(Eagle News)–The Philippines’ headline inflation slightly accelerated to 3.9% in May 2024, the Philippine Statistics Authority said.
According to PSA data, this was 0.1 percent higher than the 3.8 percent registered in April.
It brings the national average inflation from January to May to 3.5 percent.
The PSA said the uptrend in the overall inflation in May was primarily influenced by the higher year-on-year increase in the index of the housing, water, electricity, gas and other fuels—at 0.9 percent from 0.4 percent in April.
Also contributing to the uptrend was the faster annual growth of the transport index, pegged at 3.5 percent from 2.6 percent in April.
Meanwhile, the following commodity groups registered lower inflation rates:
a. Food and non-alcoholic beverages, 5.8 percent from 6.0 percent;
b. Alcoholic beverages and tobacco, 4.2 percent from 4.9 percent;
c. Clothing and footwear, 3.4 percent from 3.6 percent;
d. Health, 2.9 percent from 3.0 percent;
e. Recreation, sport and culture, 3.5 percent from 3.8 percent;
f. Restaurants and accommodation services, 5.3 percent from 5.4 percent; and
g. Personal care, and miscellaneous goods and services, 3.4 percent from 3.5 percent.
The rest of the commodity groups retained their April inflation rates, the PSA said.
According to the PSA, the inflation in Metro Manila accelerated to 3.1 percent in May from 2.8 percent.
Inflation in areas outside of Metro Manila, meanwhile, was pegged at 4.1 percent, the same annual rate recorded in April.