MANILA - Philippine annual inflation in August likely matched the tame pace recorded in July, signaling consumer prices may now be bottoming out after a steady slide from a near 17-year peak in August last year, a Reuters poll showed on Monday.

Central bank Governor Amando Tetangco said on Monday inflation remained manageable, with the average rate expected to be well within the target range of 2.5 to 4.5% this year and 3.5 to 5.5% in 2010, supporting authorities' decision last month to keep interest rates steady.

He said the central bank needs more information beyond just one or two quarters of growth data to assess the sustainability of growth trends and their impact on commodity prices before deciding on a significant shift in monetary policy.

The median forecast of 11 economists was for August annual inflation rate to have risen by 0.2%, the same as the previous month's annual reading of 0.2%, which was the slowest in 22 years.

The central bank has forecast the annual change in the August consumer price index would range between a 0.3% fall and a 0.6% climb.

The official inflation data will be released on September 4.