Philippine Inflation Eases To One-Year Low in March

 @ibtimes on April 07 2009 2:38 AM

The Philippines consumer price annual inflation slowed to 6.4% in March from 7.3% recorded in February. It thus matched the level seen in the same month of the previous year. On a monthly basis, consumer prices inched up 0.1% after rising 0.5% in February.

The core annual inflation, which excludes volatile items like food and energy, eased to 5.6% from February's 6.4%.

The annual inflation rate in the National Capital Region eased to 3.2% in March from 4.7% in February and slowed to 7.8% from 8.4% in in Areas Outside the National Capital Region.

Easing inflation is expected to force the central bank to lower its key interest rate further. In March, the Bangko Sentral ng Pilipinas slashed the reverse repo rate by a quarter point to 4.75%.

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