THE Philippine Statistics Authority said that the inflation rate accelerated slightly anew.

According to data from the PSA, it stated that the prices of consumer goods and services in the Philippines continued its acceleration streak for the fourth straight month in May.

This is actually due to the increase in utility and transportation costs during the period.

National Statistician and PSA chief Claire Dennis Mapa said that the inflation — the rate of increase in the prices of goods and services — rose to 3.9% in May, a slight increment from the 3.8% rate in April.

It is the fastest inflation reading so far this year and also the fastest in six months when the inflation rate clocked in at 4.1% in November 2023.

But May’s inflation is slower compared to the 6.1% rate recorded in May 2023.

Last month’s inflation print brought the year-to-date inflation rate to 3.5%, still within the government’s target band of 2% to 4%. It also fell within the Bangko Sentral ng Pilipinas’ (BSP) projection range of 3.7% to 4.5%