MANILA — Philippine annual inflation increased for a third straight month in April due to a faster pace of price rises for food and transport, the statistics agency said on Tuesday.
The consumer price index PHCPI=ECI rose 3.8% in April from a year earlier, below the 4.1% median forecast in a Reuters poll, and within the central bank’s 3.5% to 4.3% forecast for the month. The April data brought year-to-date inflation to 3.4%, within the central bank’s 2% to 4% target for 2024.
The core inflation rate, which strips out volatile food and fuel items, eased to 3.2% in April from March’s 3.4%. A Reuters poll had forecast April core inflation at 3.3%.
— Reporting by Neil Jerome Morales; Editing by John Mair
