Inflation eases to 6.1% in May 2023, down for 4th straight month

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JUST IN. The country’s inflation rate went down to 6.1% in May, the fourth consecutive month of deceleration, the Philippine Statistics Authority said.

MANILA, Philippines – The country’s inflation rate went down to 6.1% in May, the fourth consecutive month of deceleration, the Philippine Statistics Authority said.

In a press briefing on Tuesday, June 6, the PSA said transport and food costs drove the slowdown in inflation, providing some relief to struggling Filipino households.. In May 2022, the inflation rate was at 5.4%.

 

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