Manila, June 5 -- The Philippines' headline inflation slowed down further to 1.3 percent in May from 1.4 percent in April, becoming the lowest inflation rate since November 2019, the Philippine Statistics Authority (PSA) said Thursday.
PSA chief Dennis Mapa told a news conference that the downtrend in the overall inflation in May was primarily brought about by the slower annual increment in the index of housing, water, electricity, gas and other fuels at 2.3 percent in May from 2.9 percent in the previous month.
Also contributing to the downtrend was the restaurant and accommodation services.
UNI XINHUA ARN
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