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Tuesday, July 06, 2004
Inflation rate rises to 5.4 percent in June (12:10 p.m.)
MANILA -- Philippine consumer prices rose 5.4 percent from a year earlier in June, exceeding official and many private projections, the National Statistics Office said Tuesday.
The inflation rate in May was 4.7 percent. Private sector analysts had widely expected inflation in June to rise to about five percent while government projections had placed it at under five percent.
The statistics office said a rise in prices of services, housing and repairs, utilities and miscellaneous items helped push the inflation rate to 5.4 percent in June.
The inflation rate for the six months to June hit 4.3 percent. The government has projected the full year inflation rate at 4.0 to 5.0 percent.
The latest figures are estimated under a new system using 2000 as the base year for prices. Under the old system, using 1994 as the base year, inflation in June would be at 5.1 percent.(AFP) |
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