PH inflation slightly up to 1.4% in June

Philippine headline inflation rose slightly to 1.4% in June from 1.3% in May, remaining below the Bangko Sentral ng Pilipinas' (BSP) target range.

The figure fell within the BSP's forecast of 1.1% to 1.9% and was lower than the 1.5% median estimate from analysts.

The slight uptick was primarily driven by higher costs for housing, utilities, and education, although a significant deceleration in rice prices tempered the overall increase.

Rice prices fell at their steepest rate since 1995, with a 14.3% decrease in June from 12.8% in May.

Transport prices contributed by logging a slower decrease at -1.6% in June compared to -2.4% in May.

Food inflation continued to ease, dropping to 0.1% in June from 0.7% in May, though meat and fish prices saw increases.

Core inflation, excluding volatile food and fuel prices, remained steady at 2.2% in June for the fourth consecutive month.