Global Economic Data
Philippine January inflation rises to 3-month high
Last Updated:2013-02-05 12:58 | Xinhua
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Philippine inflation in January accelerated to a three-month high of 3.0 percent on higher alcohol and tobacco prices, the local census department said Tuesday.

Prices of alcohol and tobacco rose 11.9 percent on year in January. This is due to the passage of the sin tax law which imposed higher excise taxes on tobacco and liquor products.

The National Statistics Office said that higher prices of fish and meat, increased electricity rates, upward adjustments in rental rates and higher salaries for household help and maintenance services also led to a higher inflation rate in January.

The actual inflation rate is within the central bank's 2.5 percent to 3.4 percent forecast.

Excluding selected food and energy items, core inflation picked up to 3.6 percent in January from 3.3 percent in December.

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