Philippines: Inflation inches down in May
Latest reading: Inflation came in at 1.3% in May, which was down from April’s 1.4%. May’s result represented the weakest inflation rate since November 2019 and was largely due to an ongoing decline in transport costs. That said, price pressures for housing and utilities softened, and food price growth largely stabilized at April’s level.
In addition, the trend pointed down mildly, with annual average inflation coming in at 2.5% in May (April: 2.7%).
Finally, consumer prices increased a seasonally adjusted 0.18% over the previous month in May, swinging from April’s 0.08% fall. May’s uptick was the highest reading since December 2024.