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MANILA, Philippines -- Inflation further eased to 2.4 percent year-on-year in July mainly due to stable food prices, including declining retail prices of rice, the government reported Tuesday. The rate of increase in prices of basic commodities lInflation eased to 2-year low of 2.4% in July
MANILA, Philippines -- Inflation further eased to 2.4 percent year-on-year in July mainly due to stable food prices, including declining retail prices of rice, the government reported Tuesday. The rate of increase in prices of basic commodities last month was the slowest in two years, matching the rate posted in July 2017. Alongside the July 2017 figure, last month's headline inflation rate was also the lowest recorded since the 2.2 percent in December 2016. «The main driver in the downward trend of inflation in July was food and non-alcoholic beverages,» National Statistician Claire Dennis S. Mapa told a press conference. In the case of rice, the Filipino food stap...Keep on reading: Inflation eased to 2-year low of 2.4% in July Read more