July 7, 2020 / 1:17 AM / a month ago

Philippines June inflation quickens to 2.5% year-on-year

FILE PHOTO: A woman waits for customers inside a food market in Paranaque, Metro Manila, Philippines August 7, 2018. REUTERS/Erik De Castro

MANILA (Reuters) - The Philippines’ annual inflation picked up to 2.5% in June, accelerating from a six-month low of 2.1% in May, due to higher increments in the transport index, tobacco and utilities indices, the statistics agency said on Tuesday.

The headline figure was near the upper end of the central bank’s forecast range of 1.9% to 2.7% for the month, and faster than the median 2.2% estimate in a Reuters’ poll.

Reporting by Neil Jerome Morales; Editing by Ed Davies

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