Philippine inflation slows, yet more curbs expected

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.