Illustrative image (Photo: Internet)
Hanoi (VNA) – The Philippines’ inflation picked up again in June after the country began easing months-long lockdown, the Philippine Statistics Authority (PSA) said on July 7.
During the month, the consumer price index (CPI) went up 2.5 percent year-on-year, near the upper end of the central bank’s forecast range of 1.9 percent to 2.7 percent for the month, mostly due to rising transportation costs.
Governor of the central bank Benjamin Diokno said on July 6 that consumers are tightening their purse strings, which could slow down economic activities.
Acting Secretary for Socio-economic Planning Karl Kendrick Chua said moderate inflation could help recover demand in the long term, and the central bank is likely to consider cutting interest rates in the short term./.
