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August inflation forecast at 3.0%-3.3%
September 4, 2003 - As prices of consumer commodities remained stable, rising domestic fuel and food prices could have failed to ease the country's inflation rate in August. MBC forecasts a 3.0% to 3.3% inflation rate last August from 3.3% in July. Oil companies raised pump prices of their fuel products twice in August by an average of P0.90 per liter due to rising crude oil prices abroad and depreciating exchange rate. Monsoon rains could have led to an uptick in food prices.

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