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Philippine March inflation at 4.0% year-on-year, exceeds market forecast

Philippine March inflation at 4.0% year-on-year, exceeds market forecast

FILE PHOTO: A vendor wearing a face mask and a face shield as protection against the coronavirus disease (COVID-19) repacks cooking oil at a market, in Manila, Philippines, January 16, 2021. REUTERS/Lisa Marie David

MANILA: Philippine annual inflation accelerated in March to 4.0per cent, the highest in six months, driven by higher energy prices and the increasing cost of some food items, the statistics agency said on Tuesday (Apr 5).

The headline figure came in above the 3.7 per cent median forecast in a Reuters poll and near the upper end of the central bank's projected range of 3.3 per cent to 4.1 per cent for the month.

 

Source: Reuters

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