Philippines Pullback In Inflation Momentum

Philippines CPI inflation moderated to 6.8% yoy in May, surprising to the downside of consensus forecasts. The monthly decline was led by transport, food, and housing utilities, though core inflation continues to climb.

Key Takeaways

• 1.Philippines CPI inflation surprised to the downside in May, rising 6.8% yoy.
• 2.The month-on-month pullback was driven by transport, food and beverages, and housing utilities.

Table of Contents

• Key numbers
• Main points