Philippine Consumer Prices Rise 4.3% In January

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Consumer prices in the Philippines grew 4.3% year-on-year in January following the 4.4% rise in the previous month, the National Statistics Office reported on Friday, missing analyst expectations for a 4.9% increase.

The core inflation rate, which excludes selected food and energy items, mildly decelerated to 3% from 3.2%.

The slowdown in inflation was attributed to the deceleration in the inflation rate of the heavily weighted food, beverages & tobacco index. Slower annual price increments in the indices of housing & repairs and miscellaneous items also contributed to the downtrend, the statistical office said.

On a monthly basis, consumer prices increased 0.6% in January, exactly in line with expectations after the 0.6% increase in the previous month.

Consumer prices in the Philippines grew 4.3% year-on-year in January following the 4.4% rise in the previous month, the National Statistics Office reported on Friday, missing analyst expectations for a 4.9% increase. (Market News Provided by RTTNews)