Philippine annual inflation at 3.8% in April

May 7, 2024 - 9:15 AM
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A woman attends her child as she shops at a public market in Manila, Philippines, October 21, 2022. (Reuters/Lisa Marie David)

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