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Philippine inflation accelerates to 5.4 pct in May

MANILA
2022-06-07 11:12

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MANILA, June 7 (Xinhua) -- Year-on-year inflation in the Philippines accelerated to 5.4 percent in May from 4.9 percent in April, mainly due to higher prices of food and non-alcoholic beverages and transport, the Philippine Statistics Authority (PSA) said on Tuesday.

PSA head Dennis Mapa said the May inflation was the highest recorded since December 2018.

The acceleration of inflation rate was primarily due to the higher annual growths in the food and non-alcoholic beverages index at 4.9 percent, and transport index at 14.6 percent, Mapa told an online briefing.

"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 percent, and oils and fats index at 13.6 percent," 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 percent; meat and other parts of slaughtered land animals, 5.4 percent; fish and other seafood, 6.2 percent; milk, other dairy products and eggs, 1.5 percent; and sugar, confectionery and desserts, 8.7 percent.
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