MANILA -- The rate of inflation in the Philippines saw a further dip last month, with consumer prices rising only by 1.2% as the oil price remains low.
The June figure, which came in below market expectations, was weaker than the 1.6% rate in May, and is the lowest in 20 years. The inflation rate was 4.4% in June 2014. Year-to-date inflation now stands at 2%, the tail end of the Philippine central bank's 2-4% target range.
