Inflation likely rose to 5.9% in Aug – BSP

Inflation could have hit hit a fresh five-year high of 5.9 percent last month with food and non-food consumer items driving the acceleration, the Bangko Sentral ng Pilipinas (BSP) said on Friday.

“The BSP Department of Economic Research projects inflation in August 2018 to settle at around 5.9 percent, with a range of 5.5-6.2 percent,” the central bank said in a statement, adding that the “central forecast implies a slight deceleration of the month-on-month inflation.”