Philippine Aug. inflation eases below BSP forecast

Philippine inflation eased to a three-month low of 2.4% in August, below the central bank's forecast range and within the government’s revised full-year target.

The Philippine Statistics Authority reported that this decline was primarily due to slower price increases for food and non-alcoholic beverages, which slowed from 2.4% in July to 1.8% in August.

Bangko Sentral ng Pilipinas Governor Benjamin Diokno stated the benign inflation environment supports economic activity despite potential disruptions from the ongoing pandemic.