INFLATION likely accelerated year-on-year, the Department of Finance (DoF) said, but the rise in prices on a monthly basis continued to moderate.
In an economic bulletin, the DoF said that inflation in May may have logged a 4.9% increase, faster than May’s 4.5%.
“Inflationary momentum, however, appears to be receding as the month-on-month change slows down from 0.5% in April to 0.3% in May,” the report read.
“Inflation may appear to be rising YOY but it is actually decelerating as the MOM inflation continues to drop.”
“A meaningful drop in prices is attainable if the food supply problem is solved because food accounts for 35.5% of the consumer basket. Rice tariffication will help temper rice inflation while productivity programs for the food sector would enhance longer-term price stability.” — Elijah Joseph C. Tubayan
