Manila, Aug. 5 -- A turnaround of the domestic inflation rate in July 2025 at 0.9 percent, the slowest since October 2019's 0.6 percent, made monetary authorities' projection of below-average inflation rate for this year firmer.

The latest inflation rate, as reported by the Philippine Statistics Authority Tuesday, is a reversal from the 1.4 percent uptick last June, and brought the seven-month average to 1.7 percent, below the government's 2.4 percent.

In a statement, the Bangko Sentral ng Pilipinas (BSP) said the latest inflation figure is within its 0.5 to 1.3 percent forecast for July.

"Inflation is projected to average below the lower end of the target in 2025, primarily due to the continued easing of rice prices," it said.

Rice p...