August inflation (2009) range at -0.3% to +0.6%

By Randell Tiongson on September 1st, 2009

The Philippines’ annual inflation rate could fall below zero in August before slightly picking up in the coming months.

· The central bank forecast the annual change in August consumer prices to range between a 0.3% fall and a rise of 0.6%, after a 0.2% climb in July, the slowest in more than two decades.

· Tetangco said the low inflation forecast continues to be driven by base effects mainly from oil and oil-affected products whose prices have dropped significantly year on year.

· “Inflation is expected to take on a slightly increasing pace but still stay in the single-digit path over the forecast horizon.”—he added

· The government will release the official inflation data for August on September 4.


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August inflation (2009) range at -0.3% to +0.6%