Inflation in Philippines slips to 4.3%
02/05/2010 | 12:15 PM
Lower prices for fruits and vegetables helped bring inflation in the Philippines down to 4.3 percent in January, the government said Friday.
The monthly rate eased slightly from 4.4 percent in December, but the National Statistics Office said it was watching price signals and market developments, noting that the cost of other food items such as rice, fish, eggs, sugar and flour products had increased.
Inflation in the same period last year was sharply higher at 7.1 percent. The average inflation rate for 2009 was 3.2 percent compared with 9.3 percent in 2008, and is projected at 4.7 percent this year.
The central bank in January left its benchmark interest rate at a record low 4 percent. - AP
The monthly rate eased slightly from 4.4 percent in December, but the National Statistics Office said it was watching price signals and market developments, noting that the cost of other food items such as rice, fish, eggs, sugar and flour products had increased.
Inflation in the same period last year was sharply higher at 7.1 percent. The average inflation rate for 2009 was 3.2 percent compared with 9.3 percent in 2008, and is projected at 4.7 percent this year.
The central bank in January left its benchmark interest rate at a record low 4 percent. - AP
