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Financial News: Philippines Inflation Slows In February

Philippines Inflation Slows In February

03/04/2020 - 23:50:00 (RTTNews)

(RTTNews) - Philippine inflation eased in February after rising in the previous month, data from the Philippine Statistics Authority showed on Thursday.

The headline inflation rate slowed to 2.6 percent in February from 2.9 percent in January. In December, inflation was 2.5 percent.

The slowdown was driven by prices of food and non-alcoholic beverages, alcoholic beverages and tobacco, housing, water, electricity, gas, and other fuels.

Excluding selected food and energy items, core inflation slowed to 3.2 percent in February from 3.3 percent in the preceding month.

The year-to-date headline inflation was 2.8 percent and the core rate came in at 3.2 percent.

On a monthly basis, consumer prices fell 0.2 percent in February, after a 0.5 percent rise in the prior month.

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