MALACAÑANG said the inflation rate in June is not alarming.
In a televised briefing on Tuesday, presidential spokesperson Harry Roque said the inflation rate of 2.5% is still very low. Inflation settled at 2.1% in May.
“Medyo bahagyang umakyat po ang ating inflation rate. Pero hindi naman po nakakabahala iyan, dahil [2.5%] po iyan,” he said, adding the gradual reopening of the economy was a factor in the slight uptick in inflation.
According to National Statistician Claire Dennis Mapa, the development was caused by higher transport costs in June in light of the easing of COVID-19 restrictions.
Public transport was suspended in March and was allowed to resume on June 1 although on a limited basis and under a two-phased approach.
The government set the inflation target for 2020 at 2 to 4%. (GMA News)
