The result was higher than the 2.3 percent average forecast of analysts earlier polled by The Manila Times. “The uptrend in the June 2020 inflation was primarily brought about by the 2.3 percent annual increment recorded in the transport index. Mapa said annual increases in the indices of alcoholic beverages and tobacco, housing, water, electricity, gas and other fuels also pushed up June 2020 inflation. The annual increase in the index of housing, water, electricity, gas and other fuels also contributed to the higher inflation during the month due to the increment in LPG, kerosene, and fuelwood. Inflation for poor households, meanwhile, settled at 3.0 percent, the highest recorded for the income group since July 2019.

Source: Manila Times July 07, 2020 17:57 UTC