Philippines Inflation

Inflation decelerates in July from the prior month

Latest reading: Consumer prices increased 6.2% on a year-on-year basis in July, following a 6.4% increase in the previous month but remaining above the Central Bank’s 2.0–4.0% target range. Relative to the previous month's figures, price pressures reduced for transport in July (+11.9% in annual terms vs +12.8% in June). In contrast, price pressures were higher for housing and utilities in July (+8.2% vs +8.1% in June). Finally, the changes in clothing and footwear and food and non-alcoholic beverages were the same as in the prior month (+3.0% and +5.2%, respectively). Lastly, consumer prices rose 0.07% in July on a seasonally adjusted month-on-month basis, following a 0.22% fall in the previous month.

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