Jan inflation slowest in 17 months at 2.4%

Headline inflation recorded its slowest pace in 17 months when the rate slipped further to 2.4 percent year-on-year in January from 2.7 percent in December, and from 4.2 percent a year earlier, official data showed on Thursday.

The January figure released by the Philippine Statistics Authority (PSA) came within the central bank’s forecast range of between 1.8 percent and 2.7 percent for the month, but slightly exceeded private analysts’ estimates of between 1.9 percent and 2.3 percent.