Philippine consumer price inflation held steady in December, in line with expectations, figures from the Philippine Statistics Authority showed Friday.
The consumer price index climbed 3.3 percent year-over-year in December, the same rate of increase as in November. The figure also matched consensus estimate.
Excluding selected food and energy items, core inflation moderated to 3.0 percent in December from 3.3 percent in the prior month.
On a monthly basis, consumer prices went up 0.3 percent from November, when it increased by 0.5 percent. That was also in line with economists’ forecast.
The annual average headline inflation rate for 2017 was registered at 3.2 percent, this was higher compared to 1.8 percent in 2016.
The statistical office also revealed that producer prices dropped 1.3 percent yearly in November, reversing a 0.1 percent rise in October.
Monthly, producer prices declined 0.9 percent in November after a 0.2 percent increase in the previous month.
The material has been provided by InstaForex Company – www.instaforex.com
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