Philippines: Inflation inches down in March
April 7, 2015
In March, consumer prices fell 0.1% over the previous month, contrasting February’s 0.1% rise. March’s decrease reflects lower prices for food items.
Inflation inched down from February’s 2.5% to 2.4% in March. Meanwhile, annual average inflation, which is the reference rate used by the Central Bank as a guide for monetary policy, in March stood at 3.8%, which was a bit down from February’s 3.9% and marked an eight-month low. Thus, average inflation in February rested slightly below the upper bound of the Central Bank’s target range.
The core inflation index, which excludes volatile items such as food and oil, in March rose 0.1% over the previous month, coming in below February’s 0.4% rise. Finally, annual core inflation rose from February’s 2.5% to 2.7% in March.