Price increases for basic goods and services were expected to have risen at a faster pace for the month of July due to higher electricity and water rates as well as petroleum prices, economists of the Bangko Sentral ng Pilipinas said on Tuesday. In a statement, the BSP's Department of Economic Research predicted that inflation rate for July rose between 5.1 to 5.8 percent. This represents a higher range than its June forecast of 4.3 to 5.1 percent, with the official number for the month surprising observers at 5.2 percent -- a high of at least five years. "The increases in electricity rates in Meralco-serviced areas, water rate adjustments in Maynilad- and Manila Water-serviced are...
Keep on reading: Power, gas prices may have pushed up July inflation to 5.8%, says BSP
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