Inflation likely at 2 to 2.8 pct in July: BSP think tank

MANILA - Inflation could settle between the 2 to 2.

8 percent range in July due to lower food and gas prices, the Bangko Sentral ng Pilipinas' think tank said Wednesday,

Lower rice and LPG prices, the reduction in electricity rates and the peso's strength against the dollar "are seen to temper inflation pressure during the month," the central bank's Department of Economic Research said in a statement. The consumer price index rose to 2.7 percent in June, its slowest since September 2017. July inflation data is due on Aug. 6.

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