By Amanda Lee
Inflation in the Philippines eased slightly in June, driven by a decline in energy prices.
Headline inflation hit 6.4%, cooling from 6.8% in May and falling within the central bank's 6.0% to 7.0% forecast range.
Economists surveyed by The Wall Street Journal had anticipated a 6.6% rise for the month.
Core inflation, which excludes selected food and energy items, rose to 4.4% last month, up from 4.1% in May.
The softer June reading was mainly due to the slower annual increase in the transport index, the Philippine Statistics Authority said.
From January to June, the Philippines' average inflation rate stood at 4.8%.
The Philippines has been one of the worst-hit economies in Asia from the global energy shock, as it is heavily reliant on the Middle East for crude oil supplies.
Inflation climbed to a more than three-year high in April on soaring energy costs. While oil prices have retreated in recent weeks as the Strait of Hormuz gradually reopens, economists warn that risks from El Nino could keep local prices elevated.
The country's high sensitivity to food prices and reliance on imported rice leave it particularly exposed to El Nino conditions, ANZ Research economists said in a recent note.
Write to Amanda Lee at amanda.lee@wsj.com