Consumer prices rose at a slower pace last month, sliding back within the government’s target range for the first time this year, owing to easing price hikes for transportation, the Philippine Statistics Authority reported.
Last month’s average price increase was at the high-end of a government full-year target band of 2.0 percent to 4.0 percent, and within the Bangko Sentral ng Pilipinas forecast range for the month of between 3.9 percent and 4.7 percent. “The main source of the downward trend of the July 2021 inflation was the lower annual increment registered in the transport index at 7.0 percent, from 9.6 percent in the previous month,” Mapa said.
Excluding selected food and energy items, core inflation continued to move at a slower rate of 2.9 percent in July from 3.0 percent in June.Prices in the National Capital Region were steady at 3.2 percent, while inflation in areas outside Metro Manila eased to 4.3 percent in July, from 4.4 percent in June 2021.But despite inflation dipping back within target in July, Nicholas T.
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