2019.07.0423:08:00UTC+00Philippines Inflation Lowest Since 2017

Philippines inflation reached its lowest level in nearly two years in June, the Philippine Statistics Authority showed Friday.

Consumer price inflation eased to 2.7 percent from 3.2 percent in May. In the same period last year, the rate was 5.2 percent. Inflation was forecast to slow moderately to 2.8 percent.

The June inflation was the weakest since September 2017.

Excluding selected food and energy items, core inflation came in at 3.3 percent in June versus 3.5 percent a month ago.

Food prices advanced at a slower pace of 2.6 percent annually and education cost declined 4.5 percent. Meanwhile, higher rate were registered in the indices of health, recreation and culture, by 3.7 percent and 3.2 percent, respectively.