Philippine annual inflation at 1.5% in August

MANILA :Philippine annual inflation quickened to 1.5 per cent in August from the prior month's 0.9 per cent rate, reflecting increases in the costs of housing, utilities and food and drinks, the statistics agency said on Friday. 

The latest inflation print, which was above the 1.3 per cent forecast in a Reuters poll, brought the year-to-date average to 1.7 per cent, below the central bank's 2.0 per cent to 4.0 per cent target range for the year. 

   Core inflation, which excludes volatile food and energy prices,  quickened to 2.7 per cent in August from 2.3 per cent in July. 

The central bank is forecasting inflation to average 1.7 per cent this year, before rising to 3.3 per cent in 2026 and 3.4 per cent in 2027. 

Last week, the central bank cut its key policy rate for a third straight meeting and signalled that its easing cycle is nearing an end.