Philippine inflation quickens to 1.5% in August

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.

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

Source: Business World