Philippine May Inflation eased to an 18-month low in May, prompting the Bangko Sentral ng Pilipinas (BSP) to consider further reduction in interest rates.
Annual inflation of 3.3 in May slowed sharply from 4.8 percent in April as lower rates were observed in all the commodity groups. This brought the year-to-date average to 5.7 percent. The May rate is the lowest since November 2007. Inflation a year ago was 9.5 percent.
Excluding selected food and energy items, core inflation further eased to 4.4 percent in May from 5.0 percent in April.
Inquirer
NSO
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