Inflation in the Philippines likely remained high in June, Bangko Sentral ng Pilipinas says in a statement. The decline in domestic oil prices and lower prices of major food items, such as rice and meat, may have tempered inflation. However, high electricity rates and vegetable prices could partly offset those lower price pressures. The central bank says it will continue to monitor recent developments in the Middle East for implications on inflation and economic activity. BSP expects inflation to settle within the range of 6.0% to 7.0% for June, compared to May's 6.8%. (amanda.lee@wsj.com)
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Philippines Inflation Likely Remained Elevated in June — Market Talk
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Inflation in the Philippines likely remained high in June, Bangko Sentral ng Pilipinas says in a statement. The decline in domestic oil prices and lower prices of major food items, such as rice and meat, may have tempered inflation. However, high electricity rates and vegetable prices could partly…