| Philippine Feb inflation slows to 26-month low of 2.7 pct |
| Last Updated(Beijing Time):2012-03-06 13:12 |
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Philippine inflation eased to a 26- month low of 2.7 percent in February on lower food prices, the National Statistics Office (NSO) said Tuesday.
This was the slowest inflation growth since September 2009 when consumer prices posted a 2.2 percent annual growth.
February's inflation, the lowest in nearly two and a half years, supports the local central bank's recent move to cut key policy rates. The central bank earlier forecast February inflation to range between 2.7 percent and 3.6 percent.
The NSO said the te annual increase in food and non-alcoholic beverages index in the Philippines slowed to 1.4 percent in February. This is due to lower rice, vegetables and sugar prices.
The NSO also noted slower annual price growth in other commodity groups including fuel, utilities, housing and transport. |
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