Philippine consumer price inflation held steady in April, defying economists' expectations for an increase, figures from the Philippine Statistics Authority showed Thursday.
The consumer price index climbed 1.1 percent year-over-year in April, the same rate of rise as in the previous month. Economists had expected a 1.2 percent spike for the month.
Prices of food and non-alcoholic beverages grew 1.6 percent annually in April and those of clothing and footwear went up by 1.9 percent. At the same time, utility costs registered a decrease of 1.5 percent.
On a monthly basis, consumer prices rose 0.2 percent in April, following a 0.1 percent increase in March.
In an another report, the statistical office announced that producer prices fell at a faster pace of 5.5 percent yearly in March, after a 5.0 percent decline a month earlier.
Month-on-month, producer prices dropped at a stable pace of 0.2 percent in March. It was the fourth month of fall in a row.
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