Relaxed coronavirus rules push inflation up to 2.5% in June 2020

MANILA, Philippines – The rate of increase in the prices of goods rose in June, as lockdown restrictions due to the coronavirus pandemic were eased.

Inflation went up to 2.5% in June, according to the Philippine Statistics Authority (PSA) on Tuesday, July 7.

The latest figure is higher than the 2.1% in May, but remained within the low end of the 1.75% to 3.75% forecast for 2020.

The year-to-date inflation now stands at 2.5%.

Transportation costs triggered the higher inflation in June.

Economists of the Bangko Sentral ng Pilipinas earlier projected that higher prices of rice and fuel may have pushed costs up.

June was the time when most areas, including Metro Manila, opened up more industries and businesses. –

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.