Headline inflation averaged at 4.1 percent last year, the sixth consecutive year that inflation remained with the official target range according to the central bank.
Average inflation for the fourth quarter eased to 3.6 percent from 4.7 percent in the third quarter due to the continued drop in food, electricity and oil prices. It was however, slightly higher than the 3.4 percent recorded in the same period a year earlier, the Bangko Sentral ng Pilipinas (BSP) said in its Fourth Quarter 2014 Inflation Report .
“Food inflation declined owing to ample domestic supply of key food items, while non-food inflation decelerated as electricity rats and the prices of domestic petroleum products declined,” it stated. MAYVELIN U. CARABALLO