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While headline inflation slowed to 6.8 percent in May from 7.2 percent in April, core inflation—which strips out volatile items—picked up to 4.1 percent from 3.9 percent, a key signal that underlying price pressures are strengthening, the Bank of the Philippine Islands (BPI) said on Friday.

Philippine headline inflation eased to 6.8 percent in May from 7.2 percent in April, coming in below the Bangko Sentral ng Pilipinas’ (BSP) projected range of 7.1 percent to 7.9 percent as transport costs and food price increases moderated, according to data released Friday by the Philippine Statistics Authority (PSA).

The Senate broke a two-day leadership deadlock on Wednesday after former Senate President Francis Escudero joined the chamber’s session, paving the way for the election of Sherwin Gatchalian as the new Senate president and the reorganization of key committees. The leadership change is expected to face legal and procedural challenges from allies of former Senate President Alan Peter Cayetano, who dispute the validity of the proceedings. Among the chamber’s first actions under the new leadership was the designation of a presiding officer for impeachment trials, except in cases involving the President, signaling efforts to restore the Senate’s legislative and constitutional functions after days of paralysis.

The Securities and Exchange Commission (SEC) said Wednesday that one of its directors has been arrested by the National Bureau of Investigation (NBI) in an entrapment operation over the alleged extortion of a private corporation.

The Office of the United States Trade Representative (USTR) has found that the Philippines' failure to prohibit and effectively block imports of goods produced with forced labor may unfairly burden US commerce, exposing Philippine exports to potential new tariffs under a Section 301 investigation.