Inflation eases in February
MANILA, Philippines - Prices of goods and services slowed down to 4.1 percent in February from the previous month's 4.2 percent, the National Statistics Office (NSO) reported on Wednesday.
"This was due to slower annual movements registered in the indices of alcoholic beverages and tobacco and transport. Those for the rest of the commodity groups were either higher or remained their last month’s rate," NSO said.
Inflation a year ago was at 3.4 percent while month-on-month inflation improved to 0.1 percent in February from 0.7 percent in January.
In the National Capital Region (NCR), inflation rose to 2.8 percent from 2.7 percent, while areas outside NCR saw the inflation rate easing to 4.5 percent from 4.6 percent.
"At the national level, slower annual hikes were correspondingly registered in alcoholic beverages and tobacco and transport indices at 7.1 percent and 1.0 percent in February from their respective January rates of 17.6 percent and 1.2 percent," the state agency said.
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