On 8 August 2018, the National Price Coordinating Council called for another Meeting to check on supply and prices of basic necessities and prime commodities. Year-to-date inflation up to July 2018 is 4.5%; a bit higher than targeted by the BSP due to a slight devaluation of the Peso, increased cost of raw materials by manufacturers, Inclement weather,  increase in electricity and water rates and increase in jeepney fares.