Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
Inflation eases to 6-month low at 4.1 percent in June
Inflation eases to 6-month low at 4.1 percent in June
ABS-CBN News
Published Jul 06, 2021 09:09 AM PHT
|
Updated Jul 06, 2021 10:11 AM PHT
Vendors tend to their stall selling pork and other meat products at the Paco Market in Manila on May 06, 2021. Jonathan Cellona, ABS-CBN News/File
MANILA - Inflation slowed in June, its lowest since December 2020, after remaining steady for 3 straight months, the state statistics bureau said Tuesday.
The consumer price index rose 4.1 percent, slower compared to the 4.5 percent in May, the Philippine Statistics Authority said in a virtual briefing.
Inflation slowed in June. Data: Philippine Statistics Authority. Processed by: ABS-CBN Data Analytics
The June CPI, however, is still slightly above the government target of 2 to 4 percent.
"The latest inflation number is consistent with expectations that inflation could remain above target in the near term as meat and oil prices remain elevated," Bangko Sentral ng Pilipinas Governor Benjamin Diokno said in a statement.
ADVERTISEMENT
The uptick in international commodity prices due to supply chain bottlenecks and recovery in global demand remain as upward risks for inflation, the BSP said.
Possible delays in easing of lockdown measures due to new COVID-19 variants could temper prospects for domestic growth, it added.
Diokno earlier said inflation could fall back within the government target within the year instead of in 2022.
Inflation could settle at an average of 3.9 percent this year, he said.
Higher inflation has an impact on household consumption which is a key factor in economic recovery.
The BSP also kept interest rates at a record-low 2 percent to encourage lending.
ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.
Our website is made possible by displaying online
advertisements to our visitors. Please consider supporting
us by disabling your ad blocker on our website.
Our website is made possible by displaying online
advertisements to our visitors. Please consider supporting
us by disabling your ad blocker on our website.
