Philippines: Inflation dips to almost-two-year-low in April
May 5, 2015
In April, consumer prices rose 0.2% over the previous month, contrasting March’s 0.1% decrease. April’s increase reflects higher prices for electricity, gas and other fuels.
Inflation edged down from March’s 2.4% to 2.2% in April, the lowest reading since August 2013. Meanwhile, annual average inflation, which is the reference rate used by the Central Bank as a guide for monetary policy, in April stood at 3.6%, which was down from March’s 3.8% and marked a 10-month low. Thus, average inflation in April rested within the Central Bank’s target range.
Core consumer prices, which exclude volatile items such as food and oil, in April rose 0.2% over the previous month, coming in above March’s 0.1% rise. Finally, core inflation moderated from March’s 2.7% to 2.5% in April.