Inflation in the Philippines slowed to 3.7% YoY in June, within the central bank's target range, potentially supporting a rate cut in August.

Inflation in the Philippines slowed to 3.7% year-over-year in June, down from 3.9% in May, and within the central bank's 2-4% target range. This trend supports the possibility of a rate cut as early as August, according to BSP Governor Eli Remolona. The latest inflation print shows deflation in housing, water, electricity, gas, transport, and restaurants and accommodation services.