The consumer price index rose 7.6% in March, below the 8.0% forecast in a Reuters poll, and marked the slowest pace of price increase in six months.
But core inflation, which strips out volatile food and fuel items, accelerated to 8.0% in March from February’s 7.8%, indicating price pressures remain.
The Philippine central bank, which projected inflation to be between 7.4% to 8.2% in March, raised its benchmark interest rate by 25 basis points to 6.25% last month, to bring inflation back to its 2%-4% target this year.
The central bank said its future policy moves would be would be data-dependent.
Source: Economy - investing.com
