Key food prices decline month on month in June

The Philippine Statistics Authority (PSA) reported on Tuesday that prices of key food commodities fell month on month during the June 15 to 17 period, which the PSA calls the second phase of June, according to BusinessWorld.

Well-milled rice prices declined 3% month on month to P56.15 per kilogram, though year-on-year prices rose 14.3%.

The decline in key food prices provides some relief for consumers, though annual comparisons still show elevated costs amid ongoing inflation concerns in the Philippines.