May inflation uptick causes mild surprise
Inflation for the month broke an established downtrend since late 2018.
The Philippine Statistics Authority (PSA) broke some not-so-good news Wednesday as May inflation turned out higher than expectations at 3.2 percent, above what economists were expecting.
The increase came as vegetables, fruits, and fish became more expensive versus the previous year.
Still, inflation is within the two to four percent target of the Bangko Sentral ng Pilipinas.