PH inflation hits fresh 9-yr high in Aug

INFLATION, or the increase in the prices of goods and services, accelerated to a fresh nine-year high of 6.4 percent in August, the Philippine Statistics Authority (PSA) reported on Wednesday.

The August inflation result exceeded the 5.9 percent forecast of the Bangko Sentral ng Pilipinas and the Department of Finance and the 5.8 percent average forecast of economists polled by The Manila Times.

For the year to date, headline inflation stood at 4.8 percent, above the Bangko Sentral’s 2.0-4.0 percent target range for 2018. MAYVELLIN CARABALLO

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