In February, consumer prices remained unchanged over the previous month, which was below the 0.39% increase observed in January. The result mainly reflected a decline in food prices, which was offset by higher prices for housing. Annual headline inflation plunged from 4.0% in January to 2.7% in February, owing to the base effect of a spike in food prices during the same month last year. In addition, the reading marked the slowest inflation rate since September 2009. Annual average inflation, which is the reference rate used by the Central Bank as a guide for monetary policy, edged down from 4.8% in January to 4.6% in February. The Central Bank expects inflation to settle within its target of 4.0% 1% for this year and the next.
Inflation plummets to 29-month low in February
March 6, 2012
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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.