MANILA — In December, inflation decreased for the third consecutive month, despite the typical increase in demand during the holiday season. This was attributed to slower rises in utility expenses and the prices of certain essential food items. Inflation — as measured by the Consumer Price Index (CPI) — eased to 3.9 percent year-on-year in the final month of 2023, from 4.1 percent in November, the Philippine Statistics Authority (PSA) reported Friday. The latest reading fell within the Bangko Sentral ng Pilipinas’ (BSP) forecast range for last month of 3.6 percent to 4.4 percent. It was also the slowest print since February 2022. With that, the monthly price growth is now back to the government’s 2 to 4 percent target…
Published Date: 2024-01-05
Source: CDN Digital
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