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Philippines’ inflation decelerates in August

The Philippines saw year-on-year inflation at 6.3% in August, compared to 6.4% in July, the Philippine Statistics Authority (PSA) reported.
Philippines’ inflation decelerates in August ảnh 1People buy food at a market in Manila, the Philippines. (Photo: AFP/VNA)
Hanoi (VNA) – The Philippines saw year-on-year inflation at 6.3% in August, compared to 6.4% in July, the Philippine Statistics Authority (PSA) reported.

The headline inflation eased in August after accelerating for five consecutive months. With the August inflation, the country's average in the first eight months of this year stood at 4.9%, PSA head Dennis Mapa told a news conference.

He noted the slowdown was primarily due to the lower annual increment recorded in the index for transport (14.6%), followed by food and non-alcoholic beverages (6.3%).

The slower growth in food inflation was thanks to the government's various interventions, including improvement of local pork production and timely import of the meat.

Meanwhile, core inflation, which excludes volatile food and energy items in the headline inflation, stood at 4.6% in August, statistics show./. 
VNA
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