Eating out: Customers at a cafe in Manila. The Philippines’ consumer price index rose 6.3% in August and the central bank says it is prepared to take further policy actions to bring inflation towards a target-consistent path over the medium term. — Bloomberg
MANILA: Philippine headline inflation slowed for the first time this year as the increase in food and transport costs eased, but a higher core inflation and weak currency are likely to prompt the central bank to continue hiking interest rates.
The consumer price index (CPI) rose 6.3% in August, the Philippine Statistics Authority said yesterday.
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