Listen to this article
Consumer prices in the Philippines rose broadly in line with estimates in February at the fastest rate since November 2014.
The headline consumer price index rose 3.3 per cent year-on-year in February, according to the Philippine Statistics Authority. This was in line with a median of economists’ estimates compiled by Bloomberg of a 3.2 per cent increase and was up from a 2.7 per cent rise in January.
Core CPI, which excludes food and energy prices, rose 2.7 per cent year-on-year, in line with expectations of a 2.6 per cent rise.
The country’s central bank, the Bangko Sentral ng Pilipinas, has set an inflation target range of between 2 and 4 per cent.