Philippine June annual inflation speeds up to 14-mth high of 1.9%

[MANILA] Philippine annual inflation quickened to 1.9 per cent in June, the fastest pace in more than a year, due to higher costs of food, fuel and school fees, the statistics agency said on Tuesday.

The June reading matched analysts' expectations, but was below the central bank's 2-4 per cent target for the year, supporting expectations monetary policy will remain steady for the rest of the year.

Core inflation, which strips out volatile food and fuel items, quickened to 1.9 per cent on-year from 1.6 per cent in May, and rose 0.4 per cent from the previous month.

REUTERS