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Philippines Inflation Climbs To 2.7% In July

Consumer prices in the Philippines were up 2.7 percent on year in July, the National Statistics Office said on Wednesday - exceeding expectations for 2.5 percent, which would have been unchanged from May's reading.

Core CPI, which excludes volatile food prices, advanced an annual 3.3 percent - up from 3.0 percent in the previous month.

The bureau also said that the country posted a merchandise trade deficit of $1.303 billion following the $1.865 billion shortfall a month earlier.

Imports were down 24.5 percent on year after plummeting 40.6 percent in May, while exports sank 13.3 percent after dropping 35.6 percent a month earlier.

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