Philippines’ May inflation highest since Dec 2018

Manila, June 7 (IANS) Year-on-year inflation in the Philippines accelerated to 5.4 per cent in May from 4.9 per cent in April, the highest since December 2018, mainly due to higher prices of food and non-alcoholic beverages and transport, the government revealed on Tuesday

Philippine Statistics Authority (PSA) chief Dennis Mapa said the acceleration of inflation rate was primarily due to the higher annual growths in the food and non-alcoholic beverages index at 4.9 per cent, and transport index at 14.6 per cent, reports Xinhua news agency.

“The uptick in the food inflation was primarily influenced by the double-digit annual growths in the vegetables, tubers, plantains, cooking bananas and pulses index at 15.2 per cent, and oils and fats index at 13.6 per cent,” he added.

In addition, Mapa said the PSA recorded higher annual increments in the following food groups — flour, bread, and other bakery products, pasta products, and other cereals, with 4.8 per cent; meat and other parts of slaughtered land animals, 5.4 per cent; fish and other seafood, 6.2 per cent; milk, other dairy products and eggs, 1.5 per cent; and sugar, confectionery and desserts, 8.7 per cent.