Inflation in the Philippines expanded 4.1 percent in April, a year-on-year surge of 1.5 percent, due to higher food and utility prices, the Philippines Statistics Authority (PSA) reported on May 7.
Without food or oil prices, core inflation accelerated to 2.9 percent in April from 2.8 percent in March.
Food and non-alcoholic drinks price index rose to 6.2 percent in April, up 0.4 percent from last month, while the index of housing, water, electricity, gas, and other fuels climbed to 3 percent from 2.7 percent.
The price of alcoholic beverages, tobacco, garment and footwear saw light declines.
Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr said the central bank will not hesitate to adjust policy if there is any risk making the inflation rate fail to reach its target of 3-5 percent for the year.
According to a latest report released by the BSP, the Philippines’ foreign currency reserves reached 79.608 billion USD in April, a slight drop compared to the level of last month which recorded 79.645 billion USD. The country sets up this year’s target of 88 billion USD in foreign currency reserves, a projected increase of 6 percent from 2013.-VNA
Without food or oil prices, core inflation accelerated to 2.9 percent in April from 2.8 percent in March.
Food and non-alcoholic drinks price index rose to 6.2 percent in April, up 0.4 percent from last month, while the index of housing, water, electricity, gas, and other fuels climbed to 3 percent from 2.7 percent.
The price of alcoholic beverages, tobacco, garment and footwear saw light declines.
Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr said the central bank will not hesitate to adjust policy if there is any risk making the inflation rate fail to reach its target of 3-5 percent for the year.
According to a latest report released by the BSP, the Philippines’ foreign currency reserves reached 79.608 billion USD in April, a slight drop compared to the level of last month which recorded 79.645 billion USD. The country sets up this year’s target of 88 billion USD in foreign currency reserves, a projected increase of 6 percent from 2013.-VNA
