INFLATION moderated to 1.3 percent in January after two consecutive months of increases, the government reported on Friday, on the back of lower prices of food and non-food items.
Last month’s rise in consumer prices was slower than the 1.5 percent recorded in December and November’s 1.1 percent. It was also below the 2.4 percent seen in January last year.
The result fell within the Bangko Sentral ng Pilipinas’ 0.8 percent to 1.6 percent forecast and also hit the mid-point of the 1.2 percent to 1.4 percent range seen in a Manila Times poll of analysts.
It was slightly higher than the Department of Finance’s 1.2 percent estimate for the month.
Mayvelin U. Caraballo