- Member Benefits
- Manage your personalised Watchlist.
- Set up an online Virtual Portfolio.
- Participate in Share Chat.
- See more trades and director dealings.
- Play the Fantasy Share Trading Game.
Share:
HomeShare PricesShare ChatFinance NewsSharecast NewsRegulatory NewsBlogsLive PricesShares BookshopFinance ToolsMembers
Latest Share Chat
Macroeconomic News
Philippines' July annual inflation at 6-mth high
Wed, 8th Aug 2012 02:22
MANILA, Aug 8 (Reuters) - The Philippines' annual inflation
rate in July was 3.2 percent, hig
increases in almost all commodity groups, government data showed
on Tuesday.
The median forecast in a Reuters poll of 12 economists was
for July annual inflation of 3.0 percent, picking up from June's
2.8 percent.
The central bank had forecast 2.6 to 3.5 percent annual
inflation in July.
Change in pct July June May Apr Mar Feb Jan
Headline (yr/yr) 3.2 2.8 2.9 3.0 2.6 2.7 4.0
Headline (mth/mth) 0.3 0.5 0.1 0.8 0.2 0.0 0.4
Core (yr/yr) 4.1 3.7 3.7 3.6 3.0 3.2 4.3
KEY POINTS:
- Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco
has said the central bank was ready to take more policy action,
if needed, adding authorities were evaluating if there was scope
for more liberal foreign exchange rules to help better manage
strong capital inflows.
- The BSP cut interest rates by 25 basis points to a new low
of 3.75 percent on July 26, its third rate cut this year, to
shield the economy from slower global growth and temper a rising
peso that is hurting exports and remittances.
- Economists in a Reuters poll last week expect inflation to
average 3.1 percent this year, matching the central bank's
estimate.
- The central bank said last month it sees average inflation
in 2013 at 3.2 percent, lower than an earlier forecast of 3.4
percent.
- Some economists now expect a fourth rate cut this year on
mounting concerns over the health of the global economy, and
with the peso likely to strengthen further against the U.S.
dollar on the back of strong capital inflows.
- The Philippine economy expanded at a faster-than-expected
6.4 percent annual pace in the first quarter, its fastest in a
year-and-a-half, but economists have warned the economy could
lose momentum in the coming quarters due to global headwinds.
(Reporting by Erik dela Cruz; Editing by Rosemarie Francisco)
Keywords: PHILIPPINE ECONOMY/INFLATION
(karen.lema@thomsonreuters.com)(+632 841-8938)(Reuters Messaging: karen.lema.reuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
rate in July was 3.2 percent, hig
her than expectations, with
increases in almost all commodity groups, government data showed
on Tuesday.
The median forecast in a Reuters poll of 12 economists was
for July annual inflation of 3.0 percent, picking up from June's
2.8 percent.
The central bank had forecast 2.6 to 3.5 percent annual
inflation in July.
Change in pct July June May Apr Mar Feb Jan
Headline (yr/yr) 3.2 2.8 2.9 3.0 2.6 2.7 4.0
Headline (mth/mth) 0.3 0.5 0.1 0.8 0.2 0.0 0.4
Core (yr/yr) 4.1 3.7 3.7 3.6 3.0 3.2 4.3
KEY POINTS:
- Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco
has said the central bank was ready to take more policy action,
if needed, adding authorities were evaluating if there was scope
for more liberal foreign exchange rules to help better manage
strong capital inflows.
- The BSP cut interest rates by 25 basis points to a new low
of 3.75 percent on July 26, its third rate cut this year, to
shield the economy from slower global growth and temper a rising
peso that is hurting exports and remittances.
- Economists in a Reuters poll last week expect inflation to
average 3.1 percent this year, matching the central bank's
estimate.
- The central bank said last month it sees average inflation
in 2013 at 3.2 percent, lower than an earlier forecast of 3.4
percent.
- Some economists now expect a fourth rate cut this year on
mounting concerns over the health of the global economy, and
with the peso likely to strengthen further against the U.S.
dollar on the back of strong capital inflows.
- The Philippine economy expanded at a faster-than-expected
6.4 percent annual pace in the first quarter, its fastest in a
year-and-a-half, but economists have warned the economy could
lose momentum in the coming quarters due to global headwinds.
(Reporting by Erik dela Cruz; Editing by Rosemarie Francisco)
Keywords: PHILIPPINE ECONOMY/INFLATION
(karen.lema@thomsonreuters.com)(+632 841-8938)(Reuters Messaging: karen.lema.reuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
