Hanoi (VNA) – The Philippines’ inflation picked up again in June after thecountry 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 percentyear-on-year, near the upper end of the central bank’s forecast range of 1.9percent to 2.7 percent for the month, mostly due to rising transportation costs.
Governor of the central bank Benjamin Diokno said on July 6that consumers are tightening their purse strings, which could slow downeconomic activities.
ActingSecretary for Socio-economic Planning Karl Kendrick Chua said moderate inflationcould help recover demand in the long term, and the central bank is likely toconsider cutting interest rates in the short term./.