KONTAN.CO.ID - MANILA. Philippine inflation eased in March to its slowest annual pace in 15 months on easing food prices, giving the central bank elbow room to manoeuvre monetary policy if necessary. It was the fifth straight month that inflation has eased and the slower-than-expected 3.3 percent print marked the second month in a row that the rate has fallen below the top end of the central bank's 2-4 percent target for this year. The central bank expects inflation to continue to moderate further as the government begins to implement a new law that removed a two-decade-old cap on rice imports. Food prices account for about 35 percent of the consumer price basket.
Philippine March inflation slowest in 15 months, supports rate-cut views
KONTAN.CO.ID - MANILA. Philippine inflation eased in March to its slowest annual pace in 15 months on easing food prices, giving the central bank elbow room to manoeuvre monetary policy if necessary. It was the fifth straight month that inflation has eased and the slower-than-expected 3.3 percent print marked the second month in a row that the rate has fallen below the top end of the central bank's 2-4 percent target for this year. The central bank expects inflation to continue to moderate further as the government begins to implement a new law that removed a two-decade-old cap on rice imports. Food prices account for about 35 percent of the consumer price basket.