Inflation seen steady at 2.8 pct in July: Reuters poll

Reuters

Posted at Aug 03 2017 02:14 PM

MANILA - Philippines' annual inflation rate likely remained unchanged at 2.8 percent in July versus June owing to stable food prices, a Reuters poll found.

The expected outcome would likely give the central bank room to keep interest rates steady when it meets on August 10, some economists said, the first policy meeting under its new governor Nestor Espenilla. 

Annual inflation reached a more than two-year high of 3.4 percent in March and April, but has since moderated due in part to lower fuel prices.

The Philippine central bank has lowered its average inflation forecast to 3.1 percent in 2017, from 3.4 percent but has kept the 2018 forecast at 3.0 percent.