RHB | Philippines | July Inflation Surged By The Fastest Pace In Three Years

Economic Research	06 Aug 2014
Philippines
Economic Highlights
July Inflation Surged By The Fastest Pace In Three Years The Philippines’ headline inflation rate surged to an almost three-year high of 4.9% y-o-y in July, from +4.4% in June and compared with +4.5% in May, on the back of soaring prices of the heavily-weighted food segment. The headline figure came in above the consensus’ estimate of 4.6% and our expectation of 4.5%, placing pressure on the central bank to continue tightening monetary policy to rein in rising inflation. Economist:  Peck Boon Soon  | +603 9280 2163