June 06, 2007	Wednesday	Jamadi-ul-Awwal 20, 1428

MANILA, June 5: The Philippines on Tuesday said consumer price inflation came in at 2.4 per cent in May, inching up from 2.3 per cent in April.

It was the second consecutive month inflation has crept up but remains well within the central bank's forecast of between 2.1 per cent and 2.8 per cent.

Core inflation, which excludes certain food and energy items, was steady at 2.6 per cent in May.

Central bank governor Amando Tetangco said the May inflation rate “confirms the central bank's assessment of some short-lived pressure from the El Nino dry spell and creeping oil prices.” Inflation rates for all commodity groups eased in May, except for fuel, light and water, which rose to 4 per cent from 2.2 per cent in April.—AFP