菲律宾5月通胀率降至近五年半来新低

Core Insights - The inflation rate in the Philippines dropped to 1.3% in May, the lowest level since December 2019 [1][2] - The average inflation rate for the first five months of the year is 1.9%, below the government's target range of 2% to 4% [1][2] Inflation Details - The decline in inflation is attributed to slower price increases in housing, water, electricity, gas, and other fuels, which decreased from 2.9% to 2.3% [1] - The price increase for food and accommodation services fell from 2.3% to 2.0% [1] - Transportation prices saw a larger decline, with a drop from 2.1% to 2.4% [1] Core Inflation - The core inflation rate, excluding food and energy prices, remained at 2.2%, but is lower than the 3.1% recorded in the same month last year [2] - The May inflation rate fell within the central bank's forecast range of 0.9% to 1.7% [2] Monetary Policy Implications - The slowdown in inflation led the central bank to lower the key policy rate by 25 basis points in April [2] - The central bank governor indicated the possibility of at least two more rate cuts within the year [2]