Philippine annual inflation at 3.9% in May

MANILA: Philippine annual inflation was 3.9% in May, versus the previous month’s 3.8% print, the statistics agency said on Wednesday.

Economists in a Reuters poll had forecast annual inflation at 4.0%, within the central bank’s 3.7% to 4.5% forecast for the month.

Core inflation, which strips out volatile food and energy prices, was at 3.1% last month.

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The agency said the uptick in prices was due to faster increases in house and utility prices and transport costs.