Philippine inflation eases to 7-month low in July

Philippine inflation eased to 4% in July, marking a seven-month low and within the Bangko Sentral ng Pilipinas' target range.

The Philippine Statistics Authority attributes this slowdown mainly to lower transportation costs, particularly tricycle fares and fuel prices, alongside a decline in domestic airfare.

However, food inflation remains a concern with vegetable prices spiking and fish prices continuing their upward trend. Pork prices remain high despite meat inflation decelerating.

Inflation for the bottom 30% income households accelerated to 4.4%, driven by higher food prices, indicating that cost increases are disproportionately affecting poorer Filipinos.