economists who responded to the Inquirer’s poll last week, seven projected the rate of increase in prices of basic goods at 2.5 percent. The Philippine Statistics Authority will release its inflation report for the month of July on Wednesday, Aug. 5.The seven economists who shared the same July inflation forecast of 2.5 percent were Ateneo de Manila University’s Alvin Ang, Banco de Oro Unibank’s Jonathan Ravelas, Barclays’ Angela Hsieh, HSBC’s Noelan Arbis, Rizal Commercial Banking Corp.
Back in June, higher transport costs pushed headline inflation to a three-month high as commuters struggled to go to work given limited public transportation options. About 75 percent of the economy resumed under a less-restrictive general community quarantine but with minimum health standards still in place.“Price pressures generally remain subdued with modified lockdowns still in place in most urban centers, including a tougher community quarantine in Cebu City.
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