Philippines' Inflation Slows in May Amid U.S.-Iran Ceasefire Talks
2026-06-05 01:30:34
Inflation in the Philippines eased in May, influenced by U.S.-Iran ceasefire negotiations that have curbed fuel prices, reducing the urgency for emergency monetary policy tightening. According to Jin10, the Philippine Statistics Authority reported on Friday that consumer prices rose by 6.8% year-on-year in May, down from 7.2% in April and below the surveyed median expectation of 7.8%. An initial agreement to extend the ceasefire has sparked hopes that the U.S.-Iran conflict might be nearing resolution. This development has led to a decrease in global energy prices, benefiting the Philippines, which imports over 90% of its oil needs from the Middle East. Philippine Central Bank Governor Eli Remolona stated that policymakers will closely monitor the latest inflation data before deciding whether to raise the benchmark policy rate at the June 18 meeting. The central bank had previously projected May's inflation rate to be between 7.1% and 7.9%.
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
South Korea Proposes Amendment to Virtual Asset User Protection LawNext article：
韩国提议修订虚拟资产用户保护法
