PHILIPPINE shares closed marginally higher on Thursday on late buying, with the main index stuck in the red for most of the session as a higher inflation rate for May dampened investor sentiment.

The Philippine Statistics Authority said consumer prices in May rose by 4.5 percent, the fastest pace in two-and-a-half years. The May figure was also faster than April’s 4.1 percent and the 2.6 percent rate seen in May of last year.

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