Hanoi (VNA) - The Philippines' inflation decreased to 4.1 percent in June after reaching 4.5 percent for three consecutive months, reported the Philippine Statistics Authority (PSA).
According to PSA head Dennis Mapa, the result brought the Southeast Asian country’s average inflation for the first half of 2021 at 4.4 percent.
Meanwhile, the central bank of the Philippines kept its key interest rates unchanged at 2 percent.
The World Bank lowered the Philippines' gross domestic product (GDP) growth forecast for 2021 to 4.7 percent from 5.5 percent.
The prediction was due to the larger-than-expected economic contraction in the first quarter, the re-imposition of stricter quarantine measures in April and May in response to a surge in COVID-19 infections, and the lingering challenges from high inflation and losses in household incomes./.
According to PSA head Dennis Mapa, the result brought the Southeast Asian country’s average inflation for the first half of 2021 at 4.4 percent.
Meanwhile, the central bank of the Philippines kept its key interest rates unchanged at 2 percent.
The World Bank lowered the Philippines' gross domestic product (GDP) growth forecast for 2021 to 4.7 percent from 5.5 percent.
The prediction was due to the larger-than-expected economic contraction in the first quarter, the re-imposition of stricter quarantine measures in April and May in response to a surge in COVID-19 infections, and the lingering challenges from high inflation and losses in household incomes./.
VNA
