In December, consumer prices declined 0.16% over the previous month, which contrasted the 0.39% increase observed in November. The result mainly reflected falling food prices. Annual headline inflation fell from 4.8% in November to 4.2% in December. Annual core inflation, which excludes the price volatility associated with items such as food and oil, moderated from 3.7% in November to 3.4% in December. Annual average inflation, which is the reference rate used by the Central Bank as a guide for monetary policy, inched up from 4.7% in November to 4.8% in December, thus ending the year within the 1% tolerance margin around the 4.0% target set by the Bank for 2011. The Central Bank expects inflation to settle within the target of 4.0% 1% for this year and the next.
Inflation slows in December
January 5, 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.