Philippines: Inflation hits highest level since January in July
Consumer prices increased a seasonally-adjusted 0.49% from the previous month in July, matching June’s print. Looking at the details, transportation prices recorded another solid increase, albeit softer than in June, while prices for food and non-alcoholic beverages continued to drop.
Inflation edged up to 2.7% in July, from June’s 2.5%. July’s reading marked the highest inflation rate since January. Annual average inflation rose to 2.1% in July (June: 2.0%). Lastly, core inflation rose to 3.3% from the previous month’s 3.0%.