Inflation edges up to 2.8 pct in July


Posted at Aug 04 2017 09:28 AM | Updated as of Aug 04 2017 10:48 AM

MANILA - (UPDATE) Consumer prices 2.8 percent in July, picking up slightly from the previous month's revised 2.7 percent rate due to increases in transportation and utility costs, the statistics agency said on Friday.

The inflation print in July matched economists' forecast, and held within the central bank's 2-4 percent comfort range this year.

Core inflation, which strips out volatile food and fuel items, was 2.1 percent in July, slowing from 2.6 percent in June.

Prices rose 0.3 percent in July from June.

The readings likely give the central bank room to keep interest rates steady when it meets on August 10, the first policy meeting under new Governor Nestor Espenilla.