September 06, 2013

August inflation lowest in 4 years

Inflation continued to decelerate in August despite bad weather and oil price hikes. In a report, the National Statistics Office (NSO) said inflation declined to 2.1 percent in August from 2.5 percent in July and 2.7 percent in June.

The latest figure fell within the Bangko Sentral ng Pilipinas’ forecast of 1.9 to 2.7 percent for last month but the year-to-date average of 2.8 percent as of end-August was below the central bank’s three to five percent target for the year. - WealthSec