• Inflation avg steady at 2.8% in July — analysts

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    Analysts estimate headline inflation in July likely stayed steady from the preceding month at an average 2.8 percent, with pressures from higher fuel and electricity rates and a weaker peso offset by lower food prices.

    Forecasts for the seventh month of 2017 made by eight analysts polled by The Manila Times ranged from 2.7 percent to 3 percent.

    Headline inflation in June also stood at 2.8 percent.

    All eight analysts agree July inflation this year will far exceed the year-earlier rate of 1.9 percent, given that the rise in consumer prices this year had so far been consistently faster than last year.

    The Philippine Statistics Authority is expected to release inflation data for July 2017 on Friday, August 4.

    MAYVELIN U. CARABALLO

    MC/NT

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