Philippine Annual Inflation Eases to 2.4% in August​

A woman waits for customers inside a food market in Paranaque, Metro Manila, Philippines August 7, 2018. REUTERS/Erik De Castro

MANILA (Reuters) - The Philippines' annual inflation eased to 2.4% in August, the slowest in three months, driven by a deceleration in price increases for the heavily-weighted food and non-alcoholic beverage index, the statistics agency said on Friday.

Last month's headline figure <PHCPI=ECI> was below the low end of the central bank's forecast range of 2.5% to 3.3% for the month, and the median 2.8% estimate in a Reuters' poll.

Core inflation, which excludes volatile food and fuel prices, was 3.1%, versus 3.3% in July <PHCPXY=ECI>.