Philippines says July inflation at +6.4% yr/yr, above market forecasts

A vendor adjusts his mask for protection against the coronavirus disease (COVID-19) before starting to work in a market in Quezon City, Metro Manila, Philippines, July 21, 2020. (Reuters/Eloisa Lopez)

Philippine annual inflation rose to 6.4% in July, exceeding market forecasts, driven by higher transport costs and spikes in food prices, the statistics agency said on Friday.

The headline figure PHCPI=ECI was above the 6.2% median forecast in a Reuters poll, and was at the top end of the 5.6%-6.4% range projected by the central bank for the month.

—Reporting by Neil Jerome Morales and Enrico Dela Cruz; Editing by Ed Davies

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