Inflation spiked 4.6 percent last month, outpacing the 4.5 percent increase in April but lower than market estimates of 4.9 percent. The May inflation rate was the highest since November 2011 and was above the Bangko Sentral ng Pilipinas’ 2-4 percent target range. "The inflation outlook continues to be a concern and requires close attention," BSP Governor Nestor Espenilla said. "Feed-through" of the Duterte adminstration's tax reform law, impending increases in power rates and higher core inflation are expected to push up consumer prices, analysts said. "We believe inflation expectations are likely to rise further given still-accelerating headline inflation, as evident in rising demand for wage increases," they added.

Source: Philippine Star June 05, 2018 01:58 UTC