Philippines: Inflation drops to six-month low in March
Inflation dropped to 7.6% in March, following February’s 8.6%. March’s figure represented the lowest inflation rate since September 2022. The reading was largely driven by softer growth in prices for food and non-alcoholic beverages. Moreover, prices for transport grew at a more subdued pace.
The trend pointed up, with annual average inflation coming in at 7.1% in March (February: 6.8%).
Lastly, consumer prices were stable on a seasonally adjusted basis from the previous month in March, below February’s 0.34% rise. March’s result marked the softest reading since August 2020.