Philippines Inflation Inches Up To 4%

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

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

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% 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% annual fall in July, slower than the 5.9% decline in June. On a monthly basis, producer prices were broadly unchanged. (Provided by RTTNews)