Inflation hits fresh over 5-year-high of 4.6% in May

Inflation, or the rate of increase in prices of basic goods, climbed to a fresh over five-year-high of 4.6 percent in May, the government reported on Tuesday.

In a press briefing, members of the Duterte administration’s economic team blamed the high headline inflation to higher prices of fish and seafood, fuel and lubricants, as well as bread and cereals.  /kga