August inflation (2009) range at -0.3% to +0.6%By Randell Tiongson on September 1st, 2009
· The Philippines’ annual inflation rate could fall below zero in August before slightly picking up in the coming months.
· The central bank forecast the annual change in August consumer prices to range between a 0.3% fall and a rise of 0.6%, after a 0.2% climb in July, the slowest in more than two decades.
· Tetangco said the low inflation forecast continues to be driven by base effects mainly from oil and oil-affected products whose prices have dropped significantly year on year.
· “Inflation is expected to take on a slightly increasing pace but still stay in the single-digit path over the forecast horizon.”—he added
· The government will release the official inflation data for August on September 4.