Philippine annual inflation eased more than expected in June as food and fuel co...
FILE PHOTO: A vendor rests in her market stand that sells rice in Quezon City, Metro Manila in Philippines, September 5, 2018. REUTERS/Eloisa Lopez
The consumer price index rose 2.7% year-on-year in June, below the 2.9% increase forecast in a Reuters poll, and it was the lowest since August 2017 when it hit 2.6%. The latest data could reinforce market expectations that there would be more monetary easing this year after the central bank cut interest rates PHCBIR=ECI for the first time since 2012 in May, by 25 basis points to 4.5%.
Major central banks around the world have started to cut rates in the face of rising economic risks as an escalating U.S.-China trade standoff pressures global growth and manufacturing output.
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