Philippines: Inflation decreases in fourth consecutive month

The inflation rate of the Philippines slowed to 2.7 percent in December 2014 from 3.7 in November, according to the data released by the Philippines Statistics Authority (PSA).

Wednesday, January 07, 2015 10:04

The inflation rate of the Philippines slowed to 2.7 percent in December2014 from 3.7 in November, according to the data released by thePhilippines Statistics Authority (PSA).

It was the fourthconsecutive month that recorded inflation slowdown, which was resultedfrom the decreases in the indices of housing, water, electricity, fueland transport.

December’s figure brought the average inflationin 2014 to 4.1 percent which was within the Government’s target range of3-5 percent and lower than the previous forecast of 4.4 percent by thePhilippines Central Bank.

The lower inflation in December was agood sign for consumption growth in the fourth quarter of 2014, saidEconomic Planning Secretary Arsenio Balisacan.

He also saidcore inflation, which excludes food and energy prices, decreased to 2.3percent in December from 2.7 percent in November and marked the averageof 3 percent for the whole year.

However, the Government stillneeds to be wary of inflation risks in 2015 such as pressures fromhigher price of water and the impacts of the typhoons Seniang and Rubyon the price of agricultural products, Balisacan added.-VNA

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