June inflation hits 14-month high

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RISING prices of rice, vegetables, fish and meat in the Philippines, coupled with the high cost of electricity and tuition fee hikes in most regions, pushed up inflation to 1.9 percent in June, the highest in 14 months.

Data from the Philippine Statistics Authority (PSA) shows the rate rose from 1.6 percent in May and 1.2 percent in June 2015.

Fourteen months ago, in April 2015, inflation stood at 2.2 percent.

Core inflation, which excludes food and energy prices, also climbed to 1.9 percent from 1.6 percent in May. In June 2015, core inflation stood at 2 percent.


“Increments in the prices of kerosene, LPG [liquefied petroleum gas]and selected construction materials were also noted in many provinces during the month,” besides the rising prices of basic food items and electricity,” the PSA said.

MAYVELIN U. CARABALLO

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1 Comment

  1. Maria Farhi on

    Price control – the greedy Chinese who own all basic economic activities in Philippines from warehouse and retail of salt, food supply chain, clothes, shoes, school supplies, should be jailed for abusive pricing for decades. Corruption in Philippines starts with the number 1 briber in the world – the Chinese. Pinoys, wake up.