Philippine central bank to act as May inflation stays above target
Business
MANILA, June 5 : The Philippine central bank said on Friday it will "take necessary actions" to bring inflation back to its target, after the annual pace of consumer price growth remained above its 3 per cent goal for a third straight month in May. Annual inflation unexpectedly slowed to 6.8 per cent in May from 7.2 per cent in April, largely due to slower increases in food and transport costs, the statistics agency said on Friday. Economists in a Reuters poll had expected May inflation to
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