MANILA (Reuters) -Philippine annual inflation wasin May, just below the previous month’s 1.4% rate and the lowest reading since November 2019, the statistics agency said on Thursday.
Economists in a Reuters poll had expected annual inflation of 1.3% last month, within the central bank’s forecast range of 0.9% to 1.7%.
The statistics agency said the pace of increase of housing, water, electricity and some fuel costs moderated in May.
The annual core inflation rate, which strips out volatile food and energy prices, was 2.2% last month.
(Reporting by Mikhail Flores and Karen Lema; Ediitng by John Mair)
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