Inflation quickened in June but was still lower than the target range of economic managers, the Philippine Statistics Authority (PSA) said Friday.

Euro zone inflation edged up last month to the European Central Bank's 2% target, confirming that the era of runaway prices is over and shifting policymaker focus to trade war-induced economic volatility.

Consumer prices in June were 2% higher than the same month last year, up from the 1.9% of May, lifting expectations that policymakers will leave the key interest rate unchanged later this month.