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Philippines CPI inflation 4.66% y-o-y (consensus 4.9) in Jul-23

- Philippines CPI inflation for July 2023 registers at 4.66%, slightly below the consensus forecast, pointing to subdued inflationary pressures in the economy.
- The latest data reveals the lowest CPI inflation growth rate since March 2022, indicating a possible deceleration in price increases. However, the core CPI inflation rate remains elevated at 6.73%, suggesting persistent underlying price pressures.

Philippines PMI manufacturing 51.9 in Jul-23

- The Philippines' PMI manufacturing reading of 51.9 in July 2023 indicates a slight improvement in the sector's overall health, marking the highest level since May 2023.
- Despite the positive development, the PMI reading remains 0.40 points below the one-year average, highlighting room for further growth and enhancement in the manufacturing industry.

Philippines industrial production 10.26% y-o-y in May-23

- Industrial production in the Philippines recorded a robust growth rate of 10.26% year-on-year in May 2023, surpassing the previous month's growth.
- Despite the positive growth, the industrial production is still below both the one-year and long-run averages, indicating the need for continued efforts to boost productivity.

Philippines CPI inflation 5.4% y-o-y in Jun-23

- Philippines CPI inflation rate for June 2023 recorded a year-on-year increase of 5.4%, marking the lowest growth rate since May 2022 and a decrease from the previous month's rate of 6.15%.
- The current inflation rate is 1.80 percentage points below the one-year average and 2.72 percentage points below the long-run average, indicating a slowdown in price increases and a departure from historical trends.