Manila, July 6 : Year-on-year inflation in the Philippines slowed further to 5.4 per cent in June 2023 from 6.1 per cent in May due to lower food and transport costs, authorities said on Wednesday.

Philippine Statistics Authority (PSA) data showed the average inflation rate from January to June this year stood at 7.2 per cent, reports Xinhua news agency.

The inflation rate in June 2022 was higher at 6.1 per cent.