Philippines inflation inches up to 4pct

Consumer prices in the Philippines climbed 4 percent year-on-year in August, the National Statistics Office said on Tuesday.

This was slightly higher than the 3.9 percent inflation rate in July. Economists had expected prices to rise by the same 3.9 percent.

The pick up was due to higher growth rates in food, beverages & tobacco, clothing, fuel, light & water, and miscellaneous items.

On a month-over-month basis, consumer prices increased 0.2 percent in August, the same rate of increase as in July and in line with expectations.

Separate data showed that the producer price measure of inflation recorded a 5.5 percent annual fall in July, slower than the 5.9 percent decline in June. On a monthly basis, producer prices were broadly unchanged.

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Category: Philippines