Philippine central bank Governor Nestor Espenilla said he will consider the need for more policy action after a report showed inflation exceeded 6 percent for the first time in nine years in August. Consumer prices rose 6.4 percent from a year ago, the Philippine Statistics Authority said in an emailed statement on Wednesday. That exceeded the forecasts of all 15 economists in a Bloomberg survey. The official release of the data was delayed by more than an hour due to technical issues. “We will weigh the need for further monetary policy action,” Espenilla said in a mobile-phone message after the data. “It is most critical at this point to restore inflation back to the target range soonest and securely anchor inflationary expectations.” https://www.bloomberg.com/news/arti...s-6-for-first-time-since-2009?srnd=markets-vp
