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Financial News: Philippine Inflation Lowest In Nearly 3 Years

Philippine Inflation Lowest In Nearly 3 Years

09/05/2019 - 05:54:00 (RTTNews)

(RTTNews) - Philippine consumer price inflation eased to the lowest level in nearly three years in August, figures from the Philippine Statistics Authority showed Thursday.

The consumer price index climbed 1.7 percent year-over-year in August, after a 2.7 percent rise in July.

The latest inflation was the lowest since October 2016, when it was 1.8 percent.

Excluding selected food and energy items, core inflation slowed to 2.9 percent from 3.2 percent in the previous month.

Prices of restaurant and miscellaneous goods and services registered a growth of 3.2 percent and furnishing, household equipment and routine maintenance of the house cost grew by 1.3 percent.

Separate data from the statistical office showed that the jobless rate remained unchanged at 5.4 percent in July compared to the same period previous year.

The youth unemployment rate rose to 14.4 percent in July from 14.1 percent in the same period last year.

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