Philippine annual inflation at 2.8% in January

PHILIPPINE annual inflation was at 2.8 per cent in January, versus the previous month’s 3.9 per cent, thanks to lower food prices, the statistics agency said on Tuesday.

The consumer price index in January was the lowest since October 2020 when the rate was 2.3 per cent, and was below the 3.1 per cent forecast in a Reuters poll, but matched the bottom end of the central bank’s 2.8 per cent to 3.6 per cent projection for the month.

Core inflation, which strips out volatile food and energy costs, was at 3.8 per cent in January versus 4.4 per cent in the previous month. REUTERS