Philippine inflation quickens to 1.5% in August – BusinessWorld Online
By Katherine K. Chan, Reporter
HEADLINE INFLATION picked up to 1.5% in August, driven by higher food, electricity and fuel prices, the Philippine Statistics Authority (PSA) reported on Friday.
Last month’s consumer price index (CPI) was faster than the 0.9% in July but slower than the 3.3% logged a year ago.
The August print fell within the central bank’s 1%-1.8% forecast for the month but was slightly higher than the 1.3% median estimate in a BusinessWorld poll of 16 analysts conducted last week.
August also marked the sixth month in a row that inflation settled below the Bangko Sentral ng Pilipinas’ (BSP) 2-4% target range.
For the first eight months, headline inflation averaged 1.7%, on par with the BSP’s 1.7% target for 2025.
Meanwhile, core inflation, which excludes volatile prices of food and fuel, quickened to 2.7% from 2.3% in July and 2.6% last year. It averaged 2.4% in the January-August period.
The heavily weighted food and nonalcoholic beverages were the primary driver of faster inflation during the month, National Statistician Claire Dennis S. Mapa said