Economics
Philippine Central Bank Weighs Action With Inflation at 6.4%
- Consumer-price growth exceeded 6% for first time since 2009
- Central bank to consider need for more monetary policy action
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Philippine central bank Governor Nestor Espenilla said he will consider the need for more policy action after a report showed inflation exceeded 6 percent for the first time in nine years in August.
Consumer prices rose 6.4 percent from a year ago, the Philippine Statistics Authority said in an emailed statement on Wednesday. That exceeded the forecasts of all 15 economists in a Bloomberg survey. The official release of the data was delayed by more than an hour due to technical issues.