Metro Manila (CNN Philippines, July 5) — Prices of basic goods rose slower in July, the Philippine Statistics Authority reported Thursday.

Inflation hit 4% for the month, compared to 4.1% the preceding month and 2.7% in July 2020.

The recent figure is also slower than the 4.3% point inflation forecast of the Bangko Sentral ng Pilipinas and dwells within its 3.9-4.7% target range.

The BSP cited higher Meralco rates and domestic petroleum products along with a weaker peso as main sources of upward price pressures for the month. 

This is a developing story. 

Source: https://cnnphilippines.com/business/2021/8/5/inflation-July-2021.html?fbclid=IwAR2VTwX29OJPvmW4jYoXOzVj0LTHRfT61EHi-PZE1ZGlcrdbS3aM7CulUJw