Philippines’ inflation rate increases to 4.2% in July

Philippines’ inflation rate increases to 4.2% in July

MANILA, Aug. 4 Kyodo

Inflation in the Philippines rose to 4.2 % in July from a year earlier, up from 3.9 % in June, the government said Friday.

July’s figure brought the average inflation rate for the first seven months of the year to 3.6%.

”Food, beverages and tobacco, and services contributed mainly to the increase in the year-on-year inflation rate,” the National Statistics Office said in a report.

”Higher month-on-month inflation in food, beverages and tobacco, and fuel, light and water, tempered with a deceleration in services resulted to a slower 0.5% increase in July,” it said.

The inflation rate for food, beverages and tobacco rose to 2.2% compared with 1.8% percent in June. The rate for fuel, light and water rose to 10.1% from 9.5%, while that for services gained to 10.7% from 10.2%.

The rate for miscellaneous items edged up to 2.5% from 2.4% but the rate for clothing slowed to 2.3% from 2.4% and that for housing and repairs to 4.3% from 4.6%.

The inflation rate for metropolitan Manila went up to 4.5% from 3.7% in June, according to the report.

The inflation rate rose to 4.1% in July from 4% in June in areas outside metropolitan Manila, it said.

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