Inflation likely to hit 5-yr high in Aug — analysts

INFLATION likely accelerated further to a new five-year high in August, based on a Manila Times poll of economists whose forecasts for the month ranged from 5.8 percent to 6.1 percent, or an average of 5.8 percent.

Since March, consumer price growth topped the Bangko Sentral ng Pilipinas’ (BSP) 2.0-4.0 percent target — hitting 5.7 percent in July — prompting three successive policy rate increases from monetary authorities.

The consensus view for August inflation — results for which will be announced on Wednesday — is for another above-5.0 percent result, which could lead to continued interest rate adjustments by the BSP’s policymaking Monetary Board. MAYVELIN U. CARABALLO

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