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Philippine inflation dips to 4.8 percent in April

Philippine inflation dips to 4.8 percent in April

The Philippines' inflation rate slid to 4.8 percent in April from 6.4 percent in March due to lower food prices, the central bank announced Tuesday.
The figure brings year-to-date inflation to 6.4 percent, down from 6.9 percent in March _ well within the 4.5-5.4 percent forecast, central bank officer-in-charge Armando Suratos said.
Lower prices of rice, meat and other food items drove down overall inflation for April. Only services prices rose, mainly due to a rise in petroleum products' prices.
"Despite signs of oil prices slightly inching up, inflation developments have been in line with the (central bank's) within-target inflation outlook," Suratos' statement added.
The government's inflation target for 2009 is 2.5 percent to 4.5 percent, down from 9.3 percent in 2008.


Updated : 2021-04-13 07:39 GMT+08:00