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Financial News: Philippines Inflation Slows In March

Philippines Inflation Slows In March

04/06/2021 - 01:49:00 (RTTNews)

(RTTNews) - The Philippines' inflation eased in March, data from the Philippine Statistics Authority showed on Tuesday.

The consumer price index rose 4.5 percent annually in March, after a 4.7 percent increase in February. Economists had expected a 4.8 percent rise.

The slowdown in inflation was mainly due to the lower increment in the heavily-weighted food and non-alcoholic beverages by 5.8 percent.

Prices for alcoholic beverages and tobacco grew 12.1 percent and those of furnishing, household equipment and routine maintenance rose 1.9 percent.

Prices for communication and restaurant, and miscellaneous goods and services gained 0.2 percent and 3.1 percent, respectively.

Core inflation, which excludes prices of selected food and energy items, remained unchanged at 3.5 percent in March.

On a monthly basis, consumer prices remained unchanged in March, after a 0.2 percent increase in the prior month.

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