Philippine headline inflation fell for a second consecutive month in June, driven by declines in transport and food costs.
Despite the overall slowdown, core inflation accelerated to its fastest rate in 31 months, reflecting strong pass‑through effects from higher input prices.
The split between headline and core measures highlights divergent pressures within the economy, with headline figures easing while underlying price dynamics intensify.
Core inflation’s rapid rise follows a period of relative stability, marking a notable shift in the inflation trajectory after more than two and a half years.
Policymakers face a complex environment as they balance the need to contain persistent core price pressures against the broader easing of consumer price growth.
