• June inflation drops sharply to 1.2%, beats forecast

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    Philippine headline inflation posted its sharpest drop in two decades in June at 1.2 percent on the back of sufficient food supply and moderate price pressures on energy and oil rates, the latest figures released Tuesday by the National Economic and Development Authority (NEDA) show.

    Using 2006 as the current base year, the NEDA said the June figures covered the monthly inflation series from 1995 to June 2015.

    Inflation in the month settled within the central bank’s forecast range of between 1.1 percent and 2 percent, and stood below analysts’ estimate of 1.4 percent  to 1.8 percent.

    Growth in consumer prices decelerated from 1.6 percent in May and 4.4 percent in June last year.

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