Above-target Philippine inflation keeps door open for rate hikes

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MANILA (Bloomberg): Philippines’ headline inflation remained well above the central bank’s target in August, strengthening the case for policy makers to continue raising interest rates when they meet later this month.

Consumer prices rose 6.3% in August, slower than July’s 6.4% and the first deceleration since January, government data compiled by Bloomberg showed. Still, it is nowhere closer to the central bank’s 2%-4% goal.