Tuesday July 7, 02:20 AM
Philippine June inflation falls to 2-decade low
MANILA, July 7 (Reuters) - The Philippine statistics office
released the June consumer price index on Tuesday:
KEY DATA*
Consumer price index:
Month June May April March Feb Jan
Headline (yr/yr) 1.5 3.3 4.8 6.4 7.3 7.1
Core (Berlin: LJ1.BE - news) (yr/yr) 3.9 4.4 5.0 5.6 6.4 6.9
Headline (mth/mth) 0.6 -0.1 0.5 0.1 0.5 0.3
* Note (Stockholm: NOTE.ST - news) : The base year is 2000. Core consumer prices strip out
some food and fuel items.
KEY POINTS
* Analysts say slowing inflation gives the central bank room
to reduce its policy rate by 25 basis points to a record 4
percent on July 9 -- the sixth cut since December.
* They estimate it will be the last cut in the current cycle.
* The central bank has said inflation, falling since August,
will likely bottom out in the third quarter at around 1 percent.
* Central bank (CBSU.PK - news) governor Amando Tetangco has said there were
still no signs of deflation even if inflation was falling.
* He said on Friday the central bank was thinking about an
exit strategy, although he stressed it was not time to implement
such a move. It marked his first comments since the global crisis
began on the need to halt rate cuts.
LINKS
-- Reuters inflation and rates poll..........
-- NSO Website: ....................http://www.census.gov.ph
(Reporting by Manolo Serapio Jr.; Editing by Rosemarie
Francisco)
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