KONTAN.CO.ID - MANILA. Philippine annual inflation slowed for a sixth consecutive month in April, reinforcing views the central bank will loosen its grip on monetary policy to support economic growth. Lower food and utility fuel prices brought last month's headline inflation to 3.0 percent, down from March's 3.3 percent and the lowest in 16 months, matching the median forecast in a Reuters poll. Inflation is seen to slow further this year as the impact from new and higher taxes imposed last year on certain commodities fades and as the government lifts rice import caps. Food prices account for about 35 percent of the consumer price basket.
Philippine inflation slows for sixth straight month in April
KONTAN.CO.ID - MANILA. Philippine annual inflation slowed for a sixth consecutive month in April, reinforcing views the central bank will loosen its grip on monetary policy to support economic growth. Lower food and utility fuel prices brought last month's headline inflation to 3.0 percent, down from March's 3.3 percent and the lowest in 16 months, matching the median forecast in a Reuters poll. Inflation is seen to slow further this year as the impact from new and higher taxes imposed last year on certain commodities fades and as the government lifts rice import caps. Food prices account for about 35 percent of the consumer price basket.