Metro Manila (CNN Philippines, July 5) — Prices of basic goods rose slower in July, the Philippine Statistics Authority reported Thursday.
Inflation hit 4% for the month, compared to 4.1% the preceding month and 2.7% in July 2020.
The recent figure is also slower than the 4.3% point inflation forecast of the Bangko Sentral ng Pilipinas and dwells within its 3.9-4.7% target range.
The BSP cited higher Meralco rates and domestic petroleum products along with a weaker peso as main sources of upward price pressures for the month.
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