Inflation slows further in June to 2.8 pct

ABS-CBN News

Posted at Jul 05 2017 09:18 AM

MANILA - Consumer prices rose 2.8 percent in June, within the Bangko Sentral ng Pilipinas' expectations, official data released Wednesday showed.

Inflation slowed from 3.1 percent in May, supporting economists' view that the regulator can postpone an interest rate increase to early 2018 instead of late this year.

It was the slowest increase in 5 months, following the 2.7-percent uptick in January. Economists polled by Bloomberg and Reuters predicted a 3-percent increase in June.

Bangko Sentral Governor Nestor Espenilla, who assumed office on Monday, warned of "far-reaching" impacts of monetary policy tightening in advanced economies.