PH June inflation 4.4%, down from May, up on-year

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The headline inflation rate in the Philippines eased to 4.4 percent in June from 4.5 percent in May, but accelerated from 2.7 percent a year earlier, official figures show.

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Data released on Friday by the Philippine Statistics Authority (PSA) showed that in June, the annual increments in the prices of alcoholic beverages and tobacco; housing, water, electricity, gas and other fuels; transport; and recreation and culture, slowed from May.

The latest inflation rate stayed within the 4.1 percent to 5 percent forecast range by the Bangko Sentral ng Pilipinas (BSP) for the month of June, and stood near the upper limit of the 3-percent to 5-percent full-year target of the government for  2014.

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