Higher tricycle fare pushes consumer prices to increase 2.5% in June

Photo courtesy by Wikepedia

Consumer prices rose 2.5 percent in June mostly because of costlier transportation, water and electricity, according to the Philippine Statistics Authority.

Last month’s inflation rate brought the year-to-date consumer prices at 2.5 precent. In May, inflation was posted at 2.1 percent. 

“The uptrend in the June 2020 inflation was primarily brought about by the 2.3 percent annual increment recorded in the transport index, specifically, tricycle fare index, from a 5.6 percent annual decrease in May 2020,” PSA said.

Prices of alcoholic beverages and tobacco also went up at 18.5 percent; and in housing, water, electricity, gas, and other fuels; and communication, both at 0.4 percent, also pushed up the June 2020 inflation. 

Food inflation in the country, on the other hand,  decelerated further to 2.7 percent in June 2020. It was 2.9 percent in the previous month and 2.6 percent in June 2019. 

Prices in Metro Manila  climbed further to 2 percent in June 2020 from 1.4 precent in May. 

Inflation in areas outside Metro Manila also  accelerated to 2.7 percent in June 2020, after four successive  months of deceleration.

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