Philippine consumer price inf eased to 6.8% YoY in May from 7.2% in April, below the 7.8% median survey and the PHILIPPINE C.BANK's prior 7.1%-7.9% projection for May. Preliminary extension of a U.S.-Iran ceasefire has pushed global energy prices down, easing imported fuel pressure for the Philippines, which sources over 90% of its oil from the Middle East. PHILIPPINE C.BANK governor Eli Remolona said policymakers will closely monitor incoming inf data ahead of the June 18 meeting to decide whet

Philippine consumer price inf eased to 6.8% YoY in May from 7.2% in April, below the 7.8% median survey and the PHILIPPINE C.BANK's prior 7.1%-7.9% projection for May. Preliminary extension of a U.S.-Iran ceasefire has pushed global energy prices down, easing imported fuel pressure for the Philippines, which sources over 90% of its oil from the Middle East. PHILIPPINE C.BANK governor Eli Remolona said policymakers will closely monitor incoming inf data ahead of the June 18 meeting to decide whether a policy rate increase is needed.