Philippines June inflation at 6.1% y/y, tops market forecasts

MANILA, July 5 (Reuters) – Philippine annual inflation surged to 6.1% in June, pulling away from the official 2%-4% target band, due mainly to higher energy costs and prices of some food items, the statistics agency said on Tuesday.

The headline figure PHCPI=ECI exceeded the 5.9% median forecast in a Reuters poll, but was within the 5.7%-6.5% range projected by the central bank.

(Reporting by Enrico Dela Cruz and Karen Lema
Editing by Ed Davies)

((enrico.delacruz@tr.com))