Inflation in the Philippines slowed down for the first time in six months to 6.3 percent in August from 6.4 percent in July, according to the Philippine Statistics Authority.
National Statistician Dennis Mapa said the slight easing was mainly due to slower increases in transport fares and in the prices food and non-alcoholic beverages, especially vegetables, meat and fish.
Inflation saw a five-month uptrend starting at 3 percent in February. The latest readout hiked the eight-month average (January to August) to 4.9 percent, farther above the government’s target range of 2 percent to 4 percent for the full year.
The result for August is right at the midpoint of the Bangko Sentral ng Pilipinas’ expectation for the month, which the regulator put at 5.9 percent to 6.7 percent.