Aug inflation likely down to 3.7%

LOWER fuel prices, reduced costs of essential food items, and favorable base effects could contribute to a decline in inflation in August, analysts said, further raising the possibility of more rate cuts.

The median forecast in The Manila Times poll of economists was 3.7 percent, down from July’s 4.4 percent and within the Bangko Sentral ng Pilipinas’ (BSP) 2.0- to 4.0-percent target.