INFLATION slowed for a sixth consecutive month in July, the Philippine Statistics Authority (PSA) reported on Friday, owing mainly to a slower increase in housing, water, electricity, gas, and other fuels. READ:
The 4.7 percent, down from 5.4 percent in June and July of last year at 6.4 percent, fell within the Bangko Sentral ng Pilipinas' 4.1 to 4.9 percent forecast for the month. It is slightly lower than the 4.8-percent median in a Manila Times poll of economists.
This is also the lowest recorded inflation since March 2022 at 4.0 percent, the PSA said.Core inflation, which strips out volatile food and energy items, significantly declined to 6.7 percent from 7.4 percent in June.Year to date, headline inflation stood at 6.8 percent while core inflation was at 7.6 percent. It remained well over the central bank's 2.0- to 4.0-percent target.
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