Philippine inflation eases to 6.1% after successive rate hikes
Businesstimes News·
- The Philippine Statistics Authority reported that the country's inflation rate slowed to 6.1% in August, marking the fourth consecutive monthly decline.
- The deceleration was driven by slower increases in utility and food prices, aligning with the central bank's projected range of 5.5% to 6.5% but remaining above its 2% to 4% annual target.
- Despite this easing, persistent global and domestic economic headwinds continue to challenge the central bank, which recently implemented its third consecutive rate hike to further tighten policy.