Philippine Inflation Rate Reaches Highest in More Than 16 Years
Philippine Inflation Rate Reaches Highest in More Than 16 Years2008-08-05 01:02:03.10 (New York)
By Karl Lester M. Yap
Aug. 5 (Bloomberg) — Philippine inflation accelerated for a ninth month, reaching a 16-year high in July, the government said.
Consumer prices climbed 12.2 percent from a year earlier, the National Statistics Office said in Manila today. That compares with the 11.9 percent median estimate in a Bloomberg News survey of 16 economists and the central bank’s forecast of 11.2 percent to 12 percent.
