News Room - Business/Economics

Posted on 10 Apr 2009

Philippines February `09 inflation slows to 6.4%

Slower annual inflation in all commodity groups resulted in the same trend for the Philippines' headline inflation last February, which went down to 6.4 per cent from 7.3 per cent in the previous month.

 

Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr., in a text message to reporters Tuesday, said the deceleration of inflation brought the year-to-date figure to 6.9 per cent. The government targeted inflation to range between 2.5-3.5 per cent this year and 3.5-5.5 per cent in 2010.

 

The continued decline of the rate of price increases was attributed to the decision of the central bank's policy-making Monetary Board (MB) to ease policy rates by a total of 125 basis points since December.