In April, consumer prices added 0.81% over the previous month, following on a 0.29% increase observed in March. The monthly increase reflected rising prices in the housing and repairs category as well as in services. On the other hand, food prices eased in April. As a result, annual headline inflation rose from 4.3% in March to 4.5% in April, the fastest pace in 12 months. Market analysts had the inflation rising to 4.4%. Moreover, the annual core inflation rate, which excludes the price volatility associated with items such as oil and food, increased from 3.5% in March to 3.7% in April. Annual average inflation, which is the reference rate used by the Central Bank to conduct monetary policy, remained stable at 3.8% in April. Currently, annual average inflation is below the target rate of 4.0% (1% tolerance margin), set by the Bank for 2011.
Inflation creeps up to one-year high
May 5, 2011
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Philippines Economic News
October 17, 2016
In August, cash remittances from Overseas Filipino Workers (OFW) grew 16.3% from the same month of last year to USD 2.3 billion.
October 13, 2016
The Philippines’ exports declined for the seventeenth consecutive month in August mainly due to weak demand from Japan, Hong Kong and the USA. Exports dropped an annual 4.4%, which followed July’s sharper 13.0% decrease.
October 6, 2016
In September, consumer prices rose 0.2% from the previous month, marginally up from August’s 0.1% increase.
September 22, 2016
At its meeting on 22 September, the Central Bank decided to leave the Overnight Reverse Repurchase facility (RRP) unchanged at 3.00% as the markets had expected.
September 15, 2016
In July, cash remittances from Overseas Filipino Workers (OFW) dropped 5.4% over the same month last year to USD 2.1 billion.