Inflation unexpectedly eases in August

Reuters

Posted at Sep 06 2016 11:11 AM

MANILA - Inflation unexpectedly slowed in August as food prices eased, the statistics office said on Tuesday.

The consumer price index rose 1.8 percent in August from a year earlier, below the 2-percent forecast in a Reuters poll.

It was the 16th straight month that the rate had stayed below the central bank's 2-4 percent target range.

Core inflation, which strips out volatile food and fuel items, was at 2 percent in August, picking up slightly from the previous month's annual climb of 1.9 percent.

Consumer prices rose 0.1 percent in August from a month ago, unchanged from the previous month's rise.