LOWER POWER costs last month as well as steady food prices likely tempered the rise in prices of widely used goods in July, the Department of Finance (DoF) said. “Inflation rate this month (July) is likely to moderate to 2.7% on the back of stable food prices. Year on year, power rates also declined,” Finance Undersecretary and chief economist Gil S. Beltran said in his latest economic bulletin. “Continuing benign inflation will enable the economy to sustain rapid economic growth and hurdle volatilities in the world economy with relative ease,” he added. If the estimate bears out, inflation would slow from June’s 2.8%, but remain higher than the 1.9% posted in July 2016. It would also come in below the 2.85% median of a BusinessWorld poll of 10 economists. The DoF expects prices of food and non-alcoholic beverages to have risen 3.5% in July, unchanged from a month earlier, but higher than the 2.7% in July 2016. “In July, indices for alcoholic beverages and tobacco may have risen...
Pinoy Tambayan Watch FREE Pinoy TV Show and Filipino channel live streaming. The best Tambayan Replay to watch PBA Live Streaming.