Philippine annual inflation sizzles to 7.2% in April, highest in three years

MANILA – Philippine annual inflation was at 7.2% in April, above the previous month’s 4.1% rate, the statistics agency said on Tuesday.

It was the highest inflation rate since March 2023. Economists in a Reuters poll had expected an annual inflation rate of 5.5%.

The statistics agency said the pace of increase was due to increases in the prices of food and beverages, transport and household costs.

The annual core inflation rate, which strips out volatile food and energy prices, was 3.9% last month. — Reuters