Inflation hit new over 5-year high of 5.2% in June

Inflation jumped by 5.2 percent year-on-year in June, a new over five-year high, due to sustained elevated prices of food and "sin" products, the government reportedThursday. In a report, the Philippine Statistics Authority (PSA) said the faster inflation last month was "primarily brought about by higher annual rate posted in the heavily-weighted food and non-alcoholic beverages index at 6.1 percent." In particular, prices of alcoholic beverages and tobacco climbed 20.8 percent in June; housing, water, electricity, gas, and other fuels, up 4.6 percent; furnishing, household equipment and routine maintenance of the house, up 3 percent; transport, up 7.1 percent; communication, up 0....

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