Philippine inflation forecast to ease to 6.3% in July

Economists expected Philippine inflation to ease for a third straight month in July, with a Manila Times poll showing a median forecast of 6.3%. That would be slightly below June’s 6.4% rate and within the central bank’s 5.6% to 6.6% estimate range.

Lower food prices were expected to offset higher electricity rates and fuel costs, including a surge in diesel prices tied to renewed Middle East tensions. Economists cited softer prices for rice, vegetables and other food items, while warning that energy costs could keep pressure on inflation.

The Philippine Statistics Authority is scheduled to release official July inflation data on Wednesday, Aug. 5.

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