Philippine inflation soars to 5.2% in June

Headline inflation in the Philippines hit 5.2 percent in June, the fastest in at least five years, the Philippine Statistics Authority said on Thursday. The PSA said the June inflation is 0.6 percent percentage point higher than in May, which was at 4.6 percent. Inflation in the Philippines has continued to accelerate for the sixth month. “(The faster inflation in June) was primarily brought about by higher annual rate posted in the heavily-weighted food and nonalcoholic beverages index at 6.1 percent,” the PSA said in a statement.