Arthur Fuentes

A vendor tends to his store selling rice and other goods in San Juan City on February 26, 2025. The city is looking at selling 5 kilo bags of rice priced at P33 per kilo to residents as an alternative to buying a whole sack that has about 50 kilos priced at P1650

Article (news)

Inflation

Benise Balaoing

ABS-CBN News

<h3>But NCR inflation rate higher due to electricity</h3><div> </div>MANILA (UPDATE 2) — Inflation quickened in June but was still slower than the target range of economic managers, the Philippine Statistics Authority (PSA) said Friday.Inflation hit 1.4 percent in June, which was faster than the 1.3 percent clip seen in May, but was still within the 1.1 to 1.9 percent forecast of the Bangko Sentral ng Pilipinas, and slower than the 2 to 4 percent target range of economic managers.The June clip brought average inflation for the first half of the year to 1.8 percent.<div><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/1751593096488inflation june 25.jpg" style="width:550px" class="fr-fic fr-dib"/></div>PSA Undersecretary and National Statistician Dennis Mapa said the quicker inflation in June was due to faster increases in the costs of housing, water electricity, gas and other fuels at 3.2 percent during the month from 2.3 percent in May.Food inflation meanwhile, continued to slow down, easing to 0.1 percent in June from 0.7 percent in May. In comparison, food inflation was 6.5 percent in June last year. Mapa noted that rice inflation in particular slowed to -14.3 percent, the biggest drop of rice year-on-year inflation rate for rice since 1995.“I was informed that even doon sa sample outlets natin, pumapasok na yung P20/kilo na rice,” he said.Core inflation, which strips out food and energy items that are prone to big swings in prices, was steady at 2.2 for the fourth straight month.Inflation in the National Capital Region however, was higher than the national average at 2.6 percent because of faster increases in the cost of electricity in the NCR, Mapa said.He also noted that the recently-approved wage hike for minimum wage earners in Metro Manila may affect the prices of some commodity groups in the area. “Ito yung mga subgroups na malaki yung labor input, particularly mayroon tayong subgroup dito na personal care, miscellaneous goods and services, ito yung mga salon, spa, tapos yung mga gumagawa ng appliances,” he said. “So ito ang usual na may impact talaga,” he explained. Meanwhile, for the poorest Filipinos who make up the bottom 30 percent of the population, inflation slowed to 0.8 percent. Inflation had been steadily declining in the first five months of the year from last year. Mapa answered in the affirmative when asked if inflation can stay below 2 percent for the rest of the year. “Yes, kasi ano naman ito, 1.3 to 1.4 [percent], but in general nasa ano na tayo, doon sa vicinity, lower than 2 percent,” he said.The Bangko Sentral ng Pilipinas (BSP) shares Mapa’s view, noting the continued easing of rice prices.“However, this could be partly offset by the recent spike in oil prices,” it added.The BSP also said it sees inflation settling within its 2 to 4 percent target range in 2026 and 2027. “Global economic activity is showing signs of deceleration, influenced by uncertainty over US trade policy and ongoing geopolitical conflict in the Middle East. These developments may contribute to slower domestic growth,” the BSP noted. The BSP said “a more accommodative monetary policy stance is warranted” as it monitors risks to inflation brought by rising geopolitical tensions and external policy uncertainty. The central has so far cut interest rates by 50 basis points this year. The Department of Economy, Planning, and Development (DEPDEV) said the sharp decline in food prices highlights government’s efforts to boost local production, improve logistics, and implement calibrated trade and biosecurity measures. “We will sustain these interventions and complement them with targeted initiatives to ensure a continuous, stable supply and shield consumers from future price pressures,” said Secretary Arsenio Balisacan.

Inflation quickened in June but was still lower than the target range of economic managers, the Philippine Statistics Authority (PSA) said Friday.

Inflation quickened in June but was still lower than the target range of economic managers, the Philippine Statistics Authority (PSA) said Friday.

Inflation quickens in June but still slower than target range

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Inflation quickens in June but still slower than target range

Arthur Fuentes,

Benise Balaoing,

ABS-CBN News

Published Jul 04, 2025 09:10 AM PHT

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Updated Jul 04, 2025 12:13 PM PHT

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