MANILA, May 5 (Xinhua) — Year-on-year inflation in the Philippines slowed further to 6.6 percent in April from 7.6 percent in March due to lower food and transport costs, the Philippine Statistics Authority (PSA) said on Friday.
The latest inflation rate brings the average rate in the first four months this year down to 7.9 percent.
“The food basket substantially contributed to the lower inflation rate i