The National Economic and Development Authority (NEDA) said that the Philippines had its lowest monthly…
Since December 2018, the PSA has had the highest inflation rate.
MANILA, Philippines — Inflation rose to 5.4 percent last month from 4.9 percent in April, according to the Philippine Statistics Authority (PSA).
Inflation was at its highest level since December 2018, according to data released by the PSA on Tuesday.
“Inflation was lower in May of the prior year, at 4.1 percent,” according to the research.
The PSA ascribed the acceleration to higher yearly growth rates in the food and non-alcoholic beverage index (4.9 percent) as well as the transportation index (4.9 percent) (14.6 percent).
“Alcoholic beverages and tobacco (6.8%); apparel and footwear (2.1%); recreation, sport, and culture (1.7%); and personal care, and other products and services (2.5%) all contributed to the headline inflation trend,” it said.
Housing, water, electricity, gas, and other fuels (6.5 percent) had lower inflation than furnishing, domestic equipment, and routine household maintenance (2.5 percent).
Food inflation jumped to 5.2 percent in April 2022, up from 4.0 percent in April 2022.
In May 2021, the food inflation stood at 3.7 percent.
“The other of the commodity groupings’ inflation rates remained unchanged from the previous month,” according to the PSA.
Inflation in the National Capital Region increased to 4.7 percent in April 2022 from 4.4 percent the previous month, while inflation outside the region increased to 5.5 percent from 5.1 percent the previous month.