Moody’s Analytics, a research unit that operates independently of Moody’s Investors Service, said Monday Philippine inflation is expected to be slightly faster in August 2023 compared to the 16-month low of 4.7 percent in July.
It said in its Asia Pacific Economic Preview for the week released on Monday Philippine inflation likely accelerated to 4.8 percent. The Philippine Statistics Authority will release the official August 2023 inflation data on Sept. 5.
Moody’s Analytics did not provide the reasons for its projection, but said it would be within the 4.8 percent to 5.6 percent projection by the Bangko Sentral ng Pilipinas for the month.
The BSP said last week the August inflation was driven by higher prices of rice and other agricultural commodities amid weather disturbances, sharp rise in fuel prices and increased transport fares and toll rates.
Inflation eased to 4.7 percent in July from a peak of 8.7 percent in January 2023.