Philippine March headline inflation rises to 1.1%

[MANILA] Philippine annual inflation picked up in March on higher food prices, but the pace was within analysts' and the central bank's expectations, the statistics agency said on Tuesday.

The consumer price index in March rose 1.1 per cent from a year earlier, matching analysts' estimates and within the central bank's 0.6 to 1.4 per cent forecast for the month.

Core inflation in March was steady at 1.5 per cent, while consumer prices rose 0.1 per cent from the previous month.

The central bank has a 2 to 4 per cent target for 2016 and 2017.

REUTERS