The Philippines' inflation rate rose 3.1 percent in August from 2.8 percent in July, the government said on Tuesday.
The National Economic and Development Authority (NEDA) said prices of food, transport, water, electricity and gas went up in August compared with those in the previous month.
NEDA also said core inflation, which excludes select volatile food and energy prices, also rose to 3.0 percent in August, higher than the revised 2.8 percent recorded in July.
"This is slightly higher than market expectations of 3.0 percent, but still within government's target of 2 to 4 percent," the agency said.
"Inflation is still expected to remain well within government's target for the year despite accelerating for the second time in a row," Socioeconomic Planning Secretary Ernesto Pernia said, stressing the need to continue to closely monitor upside and downside risks
The National Economic and Development Authority (NEDA) said prices of food, transport, water, electricity and gas went up in August compared with those in the previous month.
NEDA also said core inflation, which excludes select volatile food and energy prices, also rose to 3.0 percent in August, higher than the revised 2.8 percent recorded in July.
"This is slightly higher than market expectations of 3.0 percent, but still within government's target of 2 to 4 percent," the agency said.
"Inflation is still expected to remain well within government's target for the year despite accelerating for the second time in a row," Socioeconomic Planning Secretary Ernesto Pernia said, stressing the need to continue to closely monitor upside and downside risks
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