Philippines June inflation at 6.1% year-on-year, tops market forecasts

MANILA: Philippine annual inflation surged to 6.1 per cent in June, pulling away from the official 2 per cent to 4 per cent target band, due mainly to higher energy costs and prices of some food items, the statistics agency said on Tuesday .

The headline figure exceeded the 5.9 per cent median forecast in a Reuters poll, but was within the 5.7 per cent to 6.5 per cent range projected by the central bank.

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