Philippine consumer price inflation eased unexpectedly in February, figures from the Philippine Statistics Authority showed Friday.
The consumer price index increased 0.9 percent year-over-year in February, slower than the 1.3 percent climb in the previous month. Economists had expected the inflation to remain stable at 0.9 percent.
The latest rate of inflation was the weakest since October 2015, when prices had risen 0.4 percent.
Prices of food and non-alcoholic beverages grew 1.5 percent annually in February and that for clothing and footwear went up by 1.8 percent. At the same time, utility costs dropped 1.2 percent.
On a monthly basis, consumer prices fell 0.3 percent in February, in contrast to a 0.2 percent spike in the preceding month.
In a separate report, the statistical office revealed that producer prices dipped at a slower pace of 6.0 percent yearly in January, following a 7.2 percent decline a month earlier.
Prices for wood and wood products plunged 14.8 percent and those of electrical machinery by 12.1 percent.
Month-on-month, producer prices slid 1.5 percent in February, which was worse than the 0.2 percent fall in January. It was the second successive monthly decrease.
The material has been provided by InstaForex Company – www.instaforex.com