Inflation slowed to 6.8% in May from 7.2% in April as transport and food costs eased despite ongoing pressures from the Middle East conflict, the Philippine Statistics Authority (PSA) reported on Friday, June 5.
The latest figure is lower than the Bangko Sentral ng Pilipinas (BSP) forecast of 7.1% to 7.9% for May.
Despite the slowdown, inflation remains above the government’s target range of 2% to 4%. The PSA said the average inflation rate from January to May 2026 stood at 4.5%.
National Statistician Dennis Mapa attributed the slower inflation in May to a deceleration in transport costs.
“Ang pangunahing dahilan ng mas mababang antas ng inflation sa Mayo kumpara noong April 2026 ay ang mas mabagal na pagtaas ng presyo ng transport na may 16.2% inflation rate. Ito ay may 70.3% share sa pagbaba ng pangkalahatang inflation sa bansa,” Mapa said.
He added that slower increases in petroleum prices contributed to the easing inflation, with diesel at 58.5% and gasoline at 51.6%.
Food prices also rose at a slower pace, contributing to the overall decline.
“Ang pangalawang dahilan ng mas mababang antas ng inflation nitong Mayo ay ang mas mabagal na pagtaas ng presyo ng food and non-alcoholic beverages na may 5.7% inflation rate. Ito ay may 16.9% share sa pagbaba ng pangkalahatang inflation sa bansa,” Mapa said.
Vegetables and fruits posted a 6.2% inflation rate, seafood 8.8%, while meat recorded a negative 2.5% inflation rate, helping temper overall price growth. Rice inflation also eased to 15.6%, the PSA said.
Overall food inflation slowed to 5.7% from 6% in April.
Meanwhile, inflation for housing, water, electricity, gas, and other fuels decelerated to 7.8% from 8.2%, following the government’s suspension of excise taxes on kerosene and LPG, or cooking gas. — Photo from Val Gonzales, DZRH News
