July Inflation Eases to 0.9 Percent[/font] [/font][/size][/font]
Year-on-year headline inflation fell from 1.4 percent in June to 0.9 percent in July, within the Bangko Sentral ng Pilipinas’ forecast range of 0.5 to 1.3 percent for the month.[/font]
This brings the average inflation for the first seven months of the year to 1.7 percent, below the government’s inflation target range of 2 to 4 percent.[/font]
Non-food inflation eased due to the slower inflation for electricity, gas, and other fuels, and downward adjustments in prices of some petroleum products. Meanwhile, food inflation fell as rice and vegetable prices continued to decline. Rice prices decreased, driven mainly by lower international rice prices, sufficient supply, and direct government measures to stabilize prices.[/font]
On a month-on-month seasonally adjusted basis, headline inflation was steady at 0.1 percent in July relative to the previous month. Meanwhile, core inflation increased slightly from 2.2 percent in June to 2.3 percent in July. Nonetheless, underlying price pressures remain manageable.[/font][/font]
Inflation is projected to fall below the target in 2025 before returning to the target range in 2026 and 2027. Emerging risks to inflation from shifts in US trade policy and ongoing geopolitical conflict in the Middle East will continue to require close monitoring.[/font]
Going forward, the BSP will continue to safeguard price stability conducive to sustainable economic growth and employment.[/font]
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