Philippine annual inflation at 1.4% in June

MANILA: Philippine annual inflation slightly quickened to 1.4% in June, compared to the previous month’s 1.3% print, the statistics agency said on Friday, due to the faster pace of increases in utility costs.

Economists in a Reuters poll had expected annual inflation of 1.5 % last month, within the central bank’s forecast range of 1.1 to 1.9%.

Core inflation, which strips out volatile food and energy prices, was unchanged at 2.2% in June.

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Inflation in the first half of the year averaged 1.8%, within the central bank’s 2% to 4% target for the year.