INFLATION in April remained flat at 1.1 percent, the same rate posted in March, on lower utility rates and fuel prices, data released by the Philippine Statistics Authority (PSA) showed on Thursday.
April’s inflation print was half the 2.2 percent in the same month a year earlier.
The April figure stood below the 1.3 percent estimate by the Department of Finance, but was within the 0.7 percent to 1.5 percent range estimated by the Bangko Sentral ng Pilipinas (BSP) for the month, and at the lower end of the projected range of 1.1 percent to 1.7 percent by analysts polled by The Manila Times.
Core inflation, which excludes more volatile food and energy prices, also remained unchanged from March at 1.5 percent. Core inflation stood at 2.5 percent in April 2015.
Inflation for the first quarter of 2016 averaged 1.1 percent, below the 2 percent to 4 percent target of the BSP for this year. MAYVELIN U. CARABALLO