THE country’s headline inflation decelerated to 2.4 percent in August, the Philippine Statistics Authority (PSA) reported on Friday, on the back of lower food and non-alcoholic beverages. The figure is down from July’s 2.7 percent, but faster than the 1.7 percent in the same month last year. It falls outside the Bangko Sentral ng Pilipinas’ (BSP) 2.5 to 3.3-percent outlook. The result was slower than the 2.7 percent average projection in a Manila Times poll of economists. Year-to-date, consumer price growth averaged 2.5 percent, also within the central bank’s 2 to 4-percent target range for 2020.

Source: Manila Times September 04, 2020 01:52 UTC