Headline inflation eased to 3.6 percent in the three months to December from 4.7 percent in the third quarter of 2014 with the continued drop in food, electricity and oil prices, the central bank said on Friday.
Average inflation for the fourth quarter was 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 .
This brought inflation for the whole year of 2014 averaged to 4.1 percent, the sixth consecutive year that inflation remained within the official target range .
“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