Philippine Inflation Eases to 1.2 Percent in June

Philippine inflation further eased to 1.2 percent in June, hitting the lowest level since 1995, the Philippine Statistics Authority (PSA) said on Tuesday. Headline inflation further eased to 1.2 percent at the national level in the first six months of this year, the lowest level in 20 years. This compares to the 1.6% recorded in May and 4.4% posted in the same month in 2014. In its report, the PSA said inflation reached 2 percent in the first six months, the lower bound of the government’s target range of 2 percent to 4 percent. Inflation in May reached 1.6 percent. The latest figure also reflects a 1.3 percent decrease in the prices of housing, water, electricity, gas and other fuels during the month, the state-run PSA announced. – BusinessNewsAsia.com