(Source: Retail in Asia, The Business Times | Aug. 6, 2015)
Philippine inflation slowed to a record low of 0.8 percent year-on-year in July on lower electricity, petrol and transportation costs, the government said on Wednesday.
The rate of inflation was within the central bank’s forecast of 0.5 percent to 1.3 percent, but marked a steep fall from June’s year-on-year rate of 1.2 percent, according to the Philippine Statistics Authority (PSA).
Petrol, electricity and water prices decreased by 1.1 percent last month while transportation prices declined 0.5 percent. Inflation for food and non-alcoholic beverages slowed to 1.3 percent, the PSA said.