Philippines July CPI rises but door open to further easing

MANILA: Philippine inflation accelerated for a second straight month in July as the easing of coronavirus lockdowns revived consumer demand, but price pressures remained subdued, giving the central bank room for further monetary policy easing if needed.

July’s consumer price index rose 2.7% from a year earlier, the fastest in six months, driven by increases in transport, utility, alcoholic beverages and tobacco prices, the Philippine Statistics Authority said.