Philippine stocks and the peso advanced Thursday as inflation rate eased to a seven-month low of 3.3 percent in August 2024.
Inflation rate fell to 3.3 percent in August from 4.4 percent in July, according to the Philippine Statistics Authority . This brought the average inflation in the first eight months to 3.6 percent, falling within the government’s target range of 2 percent to 4 percent for the year. Ricafort said this could reduce the country’s oil import bill, narrow the country’s trade deficit and help ease import costs.
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