Philippines Aug inflation at 4.9per cent y/y, exceeds market forecasts

MANILA : Philippine annual inflation in August accelerated to 4.9per cent, the highest since December 2018, driven up by gains in the heavily weighted food and non-alcoholic beverages index, government data on Tuesday showed.

The headline figure came in at the upper end of the central bank's 4.1per cent-4.9per cent projection for the month, and was well above the 4.4per cent median forecast in the Reuters poll.

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