July inflation drops to 0.8%

Philippine headline inflation hit its slowest pace in 20 years at 0.8 percent in July, dragged by lower food, energy and oil prices, the National Economic and Development Authority (NEDA) said on Wednesday.

The inflation figure for the month matched the consensus forecast of analysts from five institutions polled earlier by The Manila Times, namely the University of Asia and the Pacific (UA&P), Metrobank Research, Security Bank Corp, global bank HSBC and the United Kingdom-based investment bank Barclays.