In August, consumer prices added 0.77% over the previous month, which more than doubled the 0.31% rise observed in July. The result mainly reflected a rise in prices for food. As a result, annual headline inflation rose from 3.2% in July to 3.8% in August, the highest level seen in seven months. Annual average inflation, which is the reference rate used by the Central Bank as a guide for monetary policy, remained unchanged from July's 3.7%. Finally, the core inflation index, which excludes the price volatility associated with items such as food and oil, added 0.39% over the previous month, driving annual core inflation up to 4.3% in August. The Central Bank expects inflation to settle within its target of 4.0% plus/minus 1.0 percentage points for this year and next
Inflation continues to accelerate in August
September 10, 2012
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Philippines Economic News
October 17, 2016
In August, cash remittances from Overseas Filipino Workers (OFW) grew 16.3% from the same month of last year to USD 2.3 billion.
October 13, 2016
The Philippines’ exports declined for the seventeenth consecutive month in August mainly due to weak demand from Japan, Hong Kong and the USA. Exports dropped an annual 4.4%, which followed July’s sharper 13.0% decrease.
October 6, 2016
In September, consumer prices rose 0.2% from the previous month, marginally up from August’s 0.1% increase.
September 22, 2016
At its meeting on 22 September, the Central Bank decided to leave the Overnight Reverse Repurchase facility (RRP) unchanged at 3.00% as the markets had expected.
September 15, 2016
In July, cash remittances from Overseas Filipino Workers (OFW) dropped 5.4% over the same month last year to USD 2.1 billion.