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MANILA, Philippines – The country’s headline inflation fell to 2.4 percent in August from 2.7 percent in July, the Philippine Statistics Authority (PSA) said on Friday.
The latest figure brings annual inflation to date for 2020 to 2.5 percent, according to the PSA report released Friday.
In August 2019, inflation was less than 1.7 percent.
“The slowdown in inflation in August 2020 was mainly due to the slowdown in inflation for heavily weighted food and non-alcoholic beverages, which declined to an annual rate of 1.8 percent during the period, from 2 , 4 percent of the previous month. ” PSA said.
/ MUF
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