THE country’s average headline inflation rate for full-year 2014 picked up to 4.1 percent from the 3 percent rate a year earlier but stayed within the 3 percent to 5 percent target range of the central bank, official data showed.
The full-year average also settled within private analysts’ estimates of between 3.8 percent and 4.3 percent.
The Bangko Sentral ng Pilipinas (BSP) said that it met its inflation target for six consecutive years. The average headline inflation rate for 2014 was also lower than the BSP’s 4.4 percent forecast for the year.
For December alone, headline inflation continued to move at a slower pace of 2.7 percent year-on-year from 3.7 percent in November, as well as the 4.1 percent a year earlier.
The December rate released by the Philippine Statistics Authority (PSA) came within the central bank’s forecast range of between 2.4 percent and 3.2 percent for the month, as well as private analysts’ estimates of between 2.8 percent and 2.9 percent.