Food prices may push July inflation to 2.1%

Headline inflation in July might have surged to 2.1 percent from the 14-month high of 1.9 percent in June or 0.8 percent a year ago, a consensus estimate drawn from a poll The Manila Times conducted among government officials and private sector analysts shows.

While the Philippine Statistics Authority is scheduled to release the inflation data this Friday, five analysts—from ANZ Research, IHS Global Insight, Bank of the Philippine Islands (BPI), Standard Chartered Bank, and Ateneo de Manila University (AdMU)—shared a consensus view that inflation in July might have spiked to 2.1 percent with ANZ Research economist Eugenia Victorino pointing out that food prices, specifically those that are locally produced, have likely maintained the upward trend.