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Philippines' annual inflation eases for 2nd straight month in June
July 5, 2017 / 1:27 AM / 2 months ago

Philippines' annual inflation eases for 2nd straight month in June

FILE PHOTO: A view of a vegetable market in La Trinidad, Benguet in northern Philippines August 6, 2016.Erik De Castro

MANILA (Reuters) - The Philippines' annual inflation eased for a second straight month in June due to slower price increases in food and transport, data from the statistics agency showed on Wednesday.

The consumer price index rose 2.8 percent in June, the lowest since January and below economists' forecast for an increase of 3.0 percent. The central bank had a 2.4-3.2 percent estimate for June.

Core inflation, which strips out volatile food and fuel items, was 2.6 percent in June, slowing from 2.9 percent in May.

Prices rose 0.1 percent in June from May.

On June 22, policymakers left key interest rates unchanged and cut their forecast for inflation this year to 3.1 percent from 3.4 percent, still within the central bank's 2-4 percent target range.

Reporting by Karen Lema; Editing by Sam Holmes

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