Inflation in the Philippines climbed to its highest level in six months in July, data from the National Statistics Office showed Wednesday.
Inflation jumped to 3.2 percent in July from 2.8 percent in June. This compares to forecast of 3.1 percent.
According to the statistical office, the increase was due to higher annual increments registered in all the commodity groups except in clothing and footwear, health, transport, and education indices.
Excluding selected food and energy items, core inflation rose to 4.1 percent in July from 3.7 percent in June.
The country's month-on-month inflation rate, meanwhile, decelerated to 0.3 percent in July from 0.5 percent in June.
The data, which was originally scheduled to be released on Tuesday, had been postponed to Wednesday after severe rains and flooding forced the closure of financial markets.
A separate release from the statistical office showed that the producer price index declined 2 percent year-on-year in June after 1.3 percent increase in May. On a monthly basis, PPI fell 1.7 percent.
by RTT Staff Writer
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