MANILA — Philippine annual inflation quickened to 1.5% in August from the prior month’s 0.9% rate, reflecting increases in the costs of housing, utilities and food and drinks, the statistics agency said on Friday.
The latest inflation print, which was above the 1.3% forecast in a Reuters poll, brought the year-to-date average to 1.7%, below the central bank’s 2.0% to 4.0% target range for the year.
Core inflation, which excludes volatile food and energy prices, quickened to 2.7% in August from 2.3% in July.
The central bank is forecasting inflation to average 1.7% this year, before rising to 3.3% in 2026 and 3.4% in 2027.
Last week, the central bank cut its key policy rate PHCBIR=ECI for a third straight meeting and signalled that its easing cycle is nearing an end.
—Reporting by Mikhail Flores and Karen Lema; Editing by John Mair
