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Philippines' April inflation steady at 1.1%

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Philippine annual inflation remained at 1.1 per cent in April, unchanged from March, the statistics agency said on Thursday, supporting views the central bank will leave interest rates on hold when it meets next week.

[MANILA] Philippine annual inflation remained at 1.1 per cent in April, unchanged from March, the statistics agency said on Thursday, supporting views the central bank will leave interest rates on hold when it meets next week.

A Reuters poll of 10 economists produced a median forecast of 1.2 per cent for annual inflation in April, within the central bank's 0.7-1.5 per cent forecast.

Core inflation in April was also steady at 1.5 per cent, while consumer prices rose 0.2 per cent from the previous month.

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

REUTERS