Philippine annual inflation slows to 1.4% in April

Philippine annual inflation was 1.4% in April, the statistics agency said on Tuesday, below the previous month’s 1.8% rate and the lowest reading since November 2019.

Economists in a Reuters poll had expected annual inflation of 1.8% April, within the central bank’s 1.3% to 2.1% forecast range for the month.

The core inflation rate, which strips out volatile energy and food prices, was 2.2%, the same as in March.

The central bank resumed its easing cycle last month, cutting its key policy rate by 25 basis points. It signaled more reductions to come in “baby steps” to help the economy cope with global challenges. Its next policy meeting is on June 19.

Source: Business World