Published:
Philippines inflation hit 4-year low
It decelerated to 2.1%.
According to BBVA Research, Philippines inflation decelerates to 2.1% y/y in August (consensus: 2.4%, prior: 2.5% y/y), the lowest level since Sept 2009 and well below the central bank's target of 3‾5%.
Here's more:
In spite of the currency depreciation (the peso has weakened by -8.5% against US dollar this year), price pressures remain subdued while growth momentum is still robust, with an impressive Q2 GDP growth of 7.5% y/y driven by strong domestic demand.
The central bank will hold its monetary policy meeting next Thursday (Sept 12th) where we expect the benchmark rate to stay on hold at 3.5% given the current situation.
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