Inflation In June 2018 Goes Above BSP, DOF's Forecast

Inflation in PH Continues to Increase

INFLATION – The inflation or the movement of the prices of basic goods and services in the Philippines went higher from May to June.

Undeniably, lots of Filipino people were alarmed by the increase in the prices of the basic goods and services in the Philippines now. There were those whose budget fall short now that lots of goods and services have higher costs.

Based on a report, the inflation or the movement of the prices of goods and services in the country continued to increase from March to May. The rate was at 4.3% in March and then it went 4.5% in April.

In May 2018, the inflation rate was at 4.6% which is 0.1 higher from the rate in April. It landed within the Bangko Sentral ng Pilipinas’ economists predicted rates – from 4.6% to 5.4%.

Reportedly, PSA stated that fish and seafood, bread and cereals, and fuel and lubricants drive the said increase in the inflation rate in the Philippines. The BSP forecasted that the rate will only go slow in 2019.

While many Filipino people are complaining about the increase in the prices of goods, Budget Secretary Benjamin Diokno stressed that the prices now are more stable compared before.

Recently, a social media post on the Twitter page of GMA News Online revealed the inflation this June 2018. It continued to accelerate and landed on 5.2%. It is above the forecast of the BSP which is within 4.3% and 5.1% and the Department of Finance’s 4.9% forecast.

Based on the Tweet, the 5.2% inflation in June is the fastest movement in the prices of goods and services in the Philippines in at least five years.

.@PSAgovph: Inflation accelerated further to 5.2% in June, the fastest in at least five years.
This is above the BSP forecast of 4.3-5.1%, and the DOF’s 4.9% | via @jvdcabuenas pic.twitter.com/7DQV6uEaTT
— GMA News (@gmanews) July 5, 2018