MANILA, Philippines (September 05, 2008) - Philippine consumer prices jumped to a near 17-year high of 12.5 per cent in August from a year earlier, at the high end of the central bank's forecast range of 11.8 to 12.6 per cent, the statistics office said on Friday.
Inflation in July was at 12.3 per cent from a year earlier, revised up from 12.2 per cent. A Reuters poll this week had forecast the August number would come in at 12.5 per cent.
Core inflation, which strips out some volatile food and energy items, reached an annual 7.0 per cent in August compared to 6.3 per cent in July, the National Statistics Office said.
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