Philippines' August inflation slows to fresh low of 0.6%

[MANILA] Philippine annual inflation slowed to a new low of 0.6 per cent in August as prices of major commodities declined, the statistics agency said on Friday.

The rate was slightly below economists' expectations of a 0.7 per cent rise and eased from 0.8 per cent in June, and was within the central bank's 0.2-1.0 per cent forecast for the month.

The August inflation print brought the year-to-date average to 1.7 per cent, below the central bank's 2-4 per cent inflation target for 2015.

REUTERS