Inflation in the Philippines eased to its lowest level in two and half years in March, data from the National Statistics Office showed Wednesday.
The annual inflation rate measured by the consumer price index fell to 2.6 percent in March from 2.7 percent in February and 4 percent in January. The March result was the weakest since September 2009.
Slower price growth in utilities and transportation as well as alcoholic beverages and tobacco contributed to the fall in inflation rate, according to the statistical office.
On a monthly basis, the CPI rose 0.2 percent in March, after recording no change in February.
Separately, the statistical office reported that the producer price inflation for the manufacturing sector accelerated to 2.9 percent in February from 2.6 percent in January. On a monthly basis, the index rose 0.2 percent.
by RTT Staff Writer
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