MANILA — Philippine inflation was likely within a 4.0% to 4.8% range on an annual basis in July, the central bank said on Wednesday, driven by higher electricity rates and prices for agricultural commodities and oil.
Annual inflation PHCPI=ECI had slowed to 3.7% in June. The central bank said it will continue monitoring developments affecting the outlook for inflation and growth.
The Philippines’ statistics agency will release inflation data on August 6.
The central bank held its policy rate steady at 6.50% in June, and flagged a possible 25 basis points rate cut in August.
—Reporting by Mikhail Flores and Neil Jerome Morales; Editing by John Mair
