Philippines: Inflation falls to over five-year low in April
Latest reading: Inflation came in at 1.4% in April, down from March’s 1.8%. April’s figure represented the lowest inflation rate since November 2019. The result was largely due to softer growth in prices for food and non-alcoholic beverages. In addition, prices for transport dropped at a quicker pace compared to the prior month.
The trend pointed down slightly, with annual average inflation coming in at 2.7% in April (March: 2.9%).
Finally, consumer prices dropped a seasonally adjusted 0.08% in April over the previous month, swinging from March’s 0.06% rise. April’s result marked the sharpest fall in prices since January.