Inflation in Philippines slows for 6th straight month in Jul 2023

06 Aug '23

1 min read

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Insights

The Philippines' seasonally-adjusted CPI for all items posted a zero per cent monthly growth rate in July from a 0.1 per cent uptick in June, while a slower monthly rise was noted for clothing & footwear: 0.1 per cent from June's 0.3 per cent.
Seasonal factors like the degree of demand for selected goods and services pushed up the clothing & footwear index.

The Philippines’ seasonally-adjusted consumer price index (CPI) for all items posted a zero per cent monthly growth rate in July this year from a 0.1 per cent uptick in June. A slower monthly increase was noted in the same during the month for clothing & footwear: 0.1 per cent from June’s 0.3 per cent.

Seasonal factors, such as the degree of demand for selected goods and services during the season, pushed up the index of clothing & footwear. These, however, did not affect the index of furnishings, a government release said.

In the National Capital Region (NCR), the seasonal factors pushed up the indices of both furnishings and clothing & footwear.

In areas outside NCR, the monthly increments in the seasonally-adjusted CPI for clothing and footwear decelerated to 0.1 per cent in July from a 0.4 per cent increase in June. These factors did not affect the index of furnishings though.

Fibre2Fashion News Desk (DS)

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