PHL inflation eases to new low in March

MANILA, Philippines – Philippine inflation slowed to a two and a half year low of 2.6 percent in March on easing utility and transport prices, the National Statistics Office (NSO) reported Wednesday.

This is the lowest annual inflation change recorded since September 2009 when inflation eased to 2.2 percent.

The NSO said the indices of alcoholic beverages and tobacco, clothing and footwear, housing, water, electricity, gas and other fuels, transport, recreation and culture and restaurants and miscellaneous goods and services posted slower annual increases during the month.

Price increases in LPG raised the index for housing, water, electricity, gas and other fuels. But the NSO said the lower charges in electricity limited the price uptick thus easing the rise in this group’s index. (Xinhua)