Philippines' June inflation slows to five-month low of 3.9%

12:53, July 06, 2010      

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Philippines' inflation rate in June slowed to 3.9 percent on lower fuel prices, showed the data released by the country's National Statistics Office (NSO) on Tuesday.

This is its slowest growth rate in five months.

The June inflation rate was slower than the 4.3 percent posted in May but was higher than the 1.5 percent inflation posted in June 2009. Since January, inflation stayed above 4 percent and peaked at 4.4 percent in March and April.

The NSO said that price adjustments in LPG and kerosene eased the fuel, light and water (FLW) index to 15.8 percent in June compared with 16.2 percent in May.

The heavily-weighted food, beverages and tobacco (FBT) index remained at its May level of 3.1 percent. This, along with tuition hikes seen in several regions including the National Capital Region (NCR), pushed month-on-month inflation to increase to 0.2 percent in June from -0.2 percent in May.

The NSO said excluding selected food and energy items, core inflation slowed to 3.7 percent in June from 3.8 percent in May.

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