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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 Philippinessaw year-on-year inflation at 6.3% in August, compared to 6.4% in July, thePhilippine Statistics Authority (PSA) reported.

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

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

The slowergrowth in food inflation was thanks to thegovernment's various interventions, including improvement of local pork productionand timely import of the meat.

Meanwhile, core inflation, which excludes volatile food andenergy items in the headline inflation, stood at 4.6% in August, statisticsshow./. 
VNA
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