Philippines CPI may stop rising YR/YR in Jul/Aug-official

Published: 05 May 2009 01:01:15 PST

MANILA, May 5 - The Philippine economy may have seen the worst of the current downturn and annual changes in consumer prices could hit zero percent in July or August, a senior government official said on Tuesday.

"Locally, we are over the worst in our view," Dennis Arroyo, head of policy planning at the economic planning agency, told reporters. "I think the worst is behind us."

Arroyo also said it was possible consumer prices changes compared with a year earlier would slow to zero percent in July or August given a high base last year.