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).
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).
It was the fourth consecutive month that recorded inflation slowdown, which was resulted from the decreases in the indices of housing, water, electricity, fuel and transport.
December’s figure brought the average inflation in 2014 to 4.1 percent which was within the Government’s target range of 3-5 percent and lower than the previous forecast of 4.4 percent by the Philippines Central Bank.
The lower inflation in December was a good sign for consumption growth in the fourth quarter of 2014, said Economic Planning Secretary Arsenio Balisacan.
He also said core inflation, which excludes food and energy prices, decreased to 2.3 percent in December from 2.7 percent in November and marked the average of 3 percent for the whole year.
However, the Government still needs to be wary of inflation risks in 2015 such as pressures from higher price of water and the impacts of the typhoons Seniang and Ruby on the price of agricultural products, Balisacan added.-VNA
It was the fourth consecutive month that recorded inflation slowdown, which was resulted from the decreases in the indices of housing, water, electricity, fuel and transport.
December’s figure brought the average inflation in 2014 to 4.1 percent which was within the Government’s target range of 3-5 percent and lower than the previous forecast of 4.4 percent by the Philippines Central Bank.
The lower inflation in December was a good sign for consumption growth in the fourth quarter of 2014, said Economic Planning Secretary Arsenio Balisacan.
He also said core inflation, which excludes food and energy prices, decreased to 2.3 percent in December from 2.7 percent in November and marked the average of 3 percent for the whole year.
However, the Government still needs to be wary of inflation risks in 2015 such as pressures from higher price of water and the impacts of the typhoons Seniang and Ruby on the price of agricultural products, Balisacan added.-VNA
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