Philippine central bank projects July inflation at 5.6–6.6%, a slowdown from the three-year high of 7.2% recorded in April. Officials cite elevated fuel pump prices, higher electricity rates, rising fish costs and a weaker peso as key upside pressures. (Manila)
The Central Bank of the Philippines projects that July inflation could settle within 5.6 to 6.6 percent, according to local media reports on Saturday. The bank noted consumer price growth has slowed over the past two months after surging to a three-year high of 7.2 percent in April, attributing upside pressures to elevated domestic petroleum pump prices, higher electricity rates, rising fish prices, and a weaker peso.
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