Philippines: Inflation breaches gov’t target anew to hit over 2-year high

• Sep 07, 2021

MANILA, Philippines — Consumer price growth resumed its uptick to accelerate beyond government expectations anew in August on higher utility costs and pricier food items.

Inflation, as measured by the consumer price index, went up 4.9% year-on-year in August, faster than 4% on-year clip recorded in July, the Philippine Statistics Authority reported on Tuesday.

The latest print, which was the fastest since December 2018, settled at the upper-end of the Bangko Sentral ng Pilipinas’ forecast range of 4.1-4.9% for the month. It marked another month that inflation breached the government’s 2-4% annual target after briefly returning within that zone in July.

Year-to-date, inflation averaged 4.4%.

Source: https://www.philstar.com/business/2021/09/07/2125464/inflation-breaches-govt-target-anew-august-hit-over-2-year-high