Philippine inflation picked up faster than expected in June as economic activity gradually resumed with the easing one of the world's longest coronavirus lockdowns, driving food and fuel prices as well as the transport index higher.
MANILA - Philippine inflation picked up faster than expected in June as economic activity gradually resumed with the easing one of the world’s longest coronavirus lockdowns, driving food and fuel prices as well as the transport index higher.
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. Despite looser restrictions, however, economists expect domestic consumption to remain sluggish in the second half, keeping price pressures in check.
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