Philippines Inflation At 6-month Low Of 7.6%

(RTTNews) - The Philippines' inflation sunk to a six-month low in March, as the growth in food prices and utility costs slowed, data from the Philippine Statistics Authority showed on Wednesday.

The consumer price index grew 7.6 percent annually in March, following an 8.6 percent rise in February. Economists had forecast a rise of 8.0 percent.

The latest inflation was the lowest since September 2022, the agency said.

Core inflation, which excludes volatile food and energy items, rose to 8.0 percent in March from 7.8 percent in February.

Food inflation eased to 9.5 percent in March from 11.1 percent in February.

On a monthly basis, consumer prices declined a seasonally adjusted 0.2 percent in March, after reaching on flat in the previous month.