The inflation rate for May 2019 has climbed to 3.2% according to the Philippine Statistics Authority (PSA).
Based on the latest report of the PSA the six-month trend slowdown has been broken after inflation rate increased by 0.2% from the 3% inflation rate in April.
However, the PSA adds this is still within the government target of 2% to 4% for the 4th consecutive month.
The PSA also said that one of the main factors contributing to the inflation rate increase is due to the high annual rates of food, housing, and utilities.—(with reports from Rosalie Coz)
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