Philippines: Inflation stable in July
August 5, 2016
In July, consumer prices were up 0.1% over the previous month, which was below the 0.4% increase recorded in June. July’s soft rise mainly reflected higher prices for food items.
Inflation stood at 1.9% in July, matching June's result. Moreover, annual average inflation inched up from 1.1% in June to 1.2% in July. In fact, the Central Bank uses annual average inflation as a guide for monetary policy.
Core consumer prices, which exclude volatile items such as food and oil, rose 0.1% in July over the previous month, undershooting June’s 0.4% increase. Finally, core inflation remained at June’s all-time low of 1.7% in July.