MANILA, Philippines — Inflation further slowed to 3.8 percent year-on-year in February, the slowest rate of increase in prices of basic goods in a year.
Headline inflation returned within the government’s full-year target range of 2-4 percent after 11 straight months of above target rates.
The inflation rate last month matched the same 3.8 percent posted in February last year.
Philippine Statistics Authority (PSA) Deputy National Statistician Josie Perez said consumer prices last month inched up 0.1 percent compared to January levels, the same month-on-month increase as in January.
Perez said the following commodity groups posted slower year-on-year price increases: food and non-alcoholic beverages; alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas, and other fuels; furnishing, household equipment and routine maintenance of the house; health; transport; recreation and culture; and restaurant and miscellaneous goods and services. /muf