, diesel prices in the Philippines were up by 86.2% compared to a year ago, while gasoline prices rose 47.2%.
Gasoline prices in some areas reached over P90 per liter, while diesel prices soared to as high as P87. Experts believe prices have yet to peak. Transport costs seeped through food production costs, with food inflation rising to 4.9%. Inflation for vegetables in particular went up to double digits, at 15.2%. Meat and fish rose to 6.2%.Interestingly, prices of beer, wine, and spirits have stayed relatively stable in 2022.
From peaking in 2020, when Filipinos were all holed up in their homes, beer is just up 5.3%, while wine grew a steady 3.3%., for instance, cast doubt on its midterm profit margin target due to inflation. For those who prefer coffee, prices remain stable. But your favorite pastry or dessert may already cost more.If you don't mind shelling out more for gas, a brand-new car might be for you. Car prices continued to contract in May, but are starting to move into positive territory.Personal care services have not joined in on the inflation trend, remaining steady since the onslaught of the pandemic.
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