People buy groceries at a store in Manila. — PHILIPPINE STAR/RYAN BALDEMOR
By Katherine K. Chan, Reporter
PHILIPPINE headline inflation eased for a second straight month in June on lower transport and food prices, but pass-through effects pushed core inflation to its fastest pace in 31 months, the Philippine Statistics Authority (PSA) said.
Based on PSA data released on Tuesday, headline inflation slowed to 6.4% from 6.8% in May, but accelerated from 1.4% a year ago.
The June inflation print came in below the 6.6% median forecast in a BusinessWorld poll of 18 analysts, but within the Bangko Sentral ng Pilipinas’ (BSP) 6%-7% projection for the month.
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