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Philippines December inflation accelerates to 3.5% yr/yr

Published 01/05/2021, 09:28 AM
Updated 01/05/2021, 09:30 AM
© Reuters.

© Reuters.

MANILA, Jan 5 (Reuters) - Philippine annual inflation picked
up faster than expected to 3.5% in December PHCPI=ECI , driven
by the heavily-weighted food and non-alcoholic beverages sector
to hit the highest level since February, 2019, the statistics
agency said on Tuesday.
That brought the full-year 2020 average to 2.6%, still
comfortably within the official target range of 2%-4%.
But the December headline figure came in above the median
3.1% forecast in a Reuters poll and was near the top end of the
central bank's projected range of 2.9%-3.7%.
Core inflation PHCPXY=ECI , which excludes volatile food
and fuel prices, picked up to 3.3% from 3.2% in November.



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