Inflation kicked up to a 13-month high of 4.5 percent in May from the revised 4.3 percent in April as core inflation — which excludes the volatile food and fuel items — rose to 3.7 percent from the revised 3.3 percent. This brought the average inflation in the first five months of the year to 4.2 percent from a year ago level of 4.3 percent.
Chan said HSBC lowered its inflation forecast to 4.6 percent from 5.2 percent in the second quarter, to 5.6 percent from 6.2 percent in the third; and to 5.7 percent from 5.9 percent in the fourth quarter due to the lower-than-expected inflation last month. “The inflation picture in the Philippines has been less worrying than expected,” the economist added.
Tag : special deposit account philippines, special deposit accounts philippines, 2012 pHILIPPINE iNFLATION RATE, bloomberg inflation forecast for the philippines, bloomberg philippines forecast 2012, Philippine 2012 inflation target of Central bank, philippine government inflation forecast 2011 For the latest updates PRESS CTR + D or visit Stock Market news Today
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