Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Consumer prices in Philippines for the month of May reached its 13-month high figure on improved demand across various sectors including food, clothing, furnishing, etc.
Consumer price index in the Philippines rose 1.6 percent in May from 1.1 percent in April. Core inflation, which excludes more volatile food and energy prices, also rose to 1.6 percent from 1.5 percent in April. Core inflation stood at 2.2 percent in May 2015.
The inflation rate in May was higher than the 1.4 percent the Department of Finance had forecast and the highest on record since April 2015 April’s 2.2 percent, data released by Philippine Statistics Authority (PSA) showed Tuesday.
The increase occurred in a wide range of sectors. They included food items, including alcoholic and non-alcoholic beverages, clothing and footwear, tobacco, furnishing, household equipment and routine maintenance of the house, health products, transport and communication, recreation and culture, and restaurant and miscellaneous goods and services, reports said.
However, inflation for the first five months in 2016 averaged 1.3 percent, below the BSP’s 2-4 percent target for the year.
"The stability in inflation rate will create a positive environment for investments and ensure affordability of basic commodities for the poor," said Emmanuel Esguerra, Socioeconomic Planning Secretary, Philippines.
Meanwhile, the Governor of the country’s central bank viewed Fed’s comments on the positive outlook for the US economy as upbeat for the global economy especially for trading partners such as Philippines.
