Thursday, 5 July 2007

Philippine June inflation slows to 2.3%

Original report at ABS-CBN News

The annual pace of inflation in June came in at 2.3 percent, slower than May's 2.4 percent, as a strong peso tempered effects of higher oil on consumer prices, the National Statistics Office said.

The figure met market expectations. An earlier ABS-CBN poll of economists showed inflation had been expected to come in at 2.35 percent.

The Bangko Sentral ng Pilipinas had expected consumer prices in June to have grown between 2.2 percent and 2.9 percent.

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