(Eagle News) — Inflation accelerated further, marking a record in at least five years, the Philippine Statistics Authority said on Thursday, July 5.
The PSA said June’s inflation was “primarily brought about by higher annual rate posted in the heavily-weighted food and non-alcoholic beverages index at 6.1 percent.”
In May, inflation was at 4.6 percent.
According to the PSA, the acceleration was due to faster increases in the prices of housing, water, electricity, gas, and other fuels (4.6 percent), prices of alcoholic beverages and tobacco (20.8 percent); furnishing (3.0 percent), communication (0.4 percent), transport (7.1 percent), and education (4.0 percent).
