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Philippines says July inflation at +6.4% yr/yr, above market forecasts

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MANILA : Philippine annual inflation rose to 6.4 per cent in July, exceeding market forecasts, driven by higher transport costs and spikes in food prices, the statistics agency said on Friday.The headline figure was above the 6.2 per cent median forecast in a Reuters poll, and was at the top end of the 5.

MANILA : Philippine annual inflation rose to 6.4 per cent in July, exceeding market forecasts, driven by higher transport costs and spikes in food prices, the statistics agency said on Friday.

The headline figure was above the 6.2 per cent median forecast in a Reuters poll, and was at the top end of the 5.6 per cent-6.4 per cent range projected by the central bank for the month.

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