Inflation Accelerated To 6.4% In July, Fastest Since Oct 2018

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Filipinos’ purchasing power has further eroded as the increase in the prices of basic goods and services remained high, such that a peso in 2018 is worth just 86 centavos in July, shrinking from 87 centavos in June.

The Philippine Statistics Authority (PSA) on Friday said inflation in the Philippines accelerated to 6.4 percent in July, the fastest year-on-year growth since October 2018, as the effects of increased wages and higher transport fares kicked in.

The PSA calculates inflation as well as the purchasing power of the peso based on prices of goods and services and the value of the Philippine currency in 2018.

The Bangko Sentral ng Pilipinas (BSP) said the emergence of thes…

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