Metro Manila, Philippines — The pace by which prices moved slowed for the fourth straight month in August, authorities said, but headwinds from rising fuel and transport costs may reverse the trend.
The Philippine Statistics Authority said inflation slowed by a point to 6.1 percent from the July figure, attributable to slower increases in food and utility prices.
Food prices, though, remain a concern with rice costing 19.4 percent last month.
National Statistician Dennis Mapa said rice is a food inflation driver.
Transport inflation was at 13.5 percent, triggered by higher diesel and gasoline prices.
Mapa said higher fuel costs could also impact prices of other goods and services.
He said inflation has declined since topping 7.2 percent in April.
“There are still items that could trigger a reverse in the trend,” Mapa warned, with the protracted Middle East conflict still a potential risk to global oil supplies and prices.
