Philippines consumer prices’ rise fastest in over 2 years

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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.

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