Philippine inflation decreased to 3.3% in August 2024, within the government target of 2%-4%.

Philippine inflation decreased to 3.3% in August 2024, down from 4.4% in July, remaining within the government target of 2% to 4%. The decline is attributed to slower price increases in food and beverages, as well as transport costs. Contributing factors include higher electricity rates and agricultural prices due to adverse weather. However, easing oil prices and reduced tariffs on rice may further help lower inflation, benefiting low-income households.

September 05, 2024
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