MANILA : Philippine annual inflation eased for a sixth straight month in July, the statistics agency said on Friday, reflecting slower increases in food and utility costs. The consumer price index rose 4.7 per cent in July, its slowest annual increase since March 2022, but the inflation rate remained abov
MANILA : Philippine annual inflation eased for a sixth straight month in July, the statistics agency said on Friday, reflecting slower increases in food and utility costs.
The consumer price index rose 4.7 per cent in July, its slowest annual increase since March 2022, but the inflation rate remained above the central bank's 2 per cent to 4 per cent target for the year.Economists in a Reuters poll had forecast the consumer price index would rise by 5.0 per cent for July, above the central bank's projection for a 4.1 per cent to 4.9 per cent rise for the month.
Core inflation, which strips out volatile food and fuel items, slowed to 6.7 per cent in July, falling from 7.4 per cent in the previous month.
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