Inflation Up to 2.8% in July; BSP Raises Forecasts

Inflation stood at 2.8 percent in July, up from the revised 2.7 percent in June. This brought the average inflation to 3.1 percent in the first seven months from 1.4 percent in the same period last year. The Bangko Sentral ng Pilipinas (BSP, Philippine central bank) raised inflation forecasts to 3.2 instead of 3.1 percent this year, to 3.2 instead of three percent next year, and to 3.1 percent instead of three percent for 2019. This is due to the…

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