Philippines’ inflation picks up to 2.7% in July

August 5, 2020 - 11:56 AM
Filipinos stock up on fish, a day before the Philippine capital goes back to a stricter lockdown amid coronavirus disease (COVID-19) infections spike, at a public market in Manila, Philippines, August 3, 2020. (Reuters/Eloisa Lopez)

MANILA — The Philippines‘ annual inflation picked up to 2.7% in July, the fastest pace in six months, driven by increases in transport costs, the country’s statistics agency said on Wednesday.

Last month’s headline figure was near the upper end of the central bank’s forecast range of 2.2% to 3.0% for the month, and above the median 2.5% estimate in a Reuters’ poll.

In June, the consumer price index was 2.5%. —Reporting by Neil Jerome Morales and Enrico dela Cruz Editing by Ed Davies