Philippine inflation accelerated to a six-month high in December driven by food prices, data from the Philippine Statistics Authority showed Tuesday.
Consumer prices rose 2.5 percent annually, faster than the 1.3 percent increase logged in November but slower than the 5.1 percent increase seen in the same period last year.
The latest rate was the highest since June, when prices climbed 2.7 percent.
The uptrend in the inflation was mainly brought about by the 1.7 percent annual increment in the heavily-weighted food and non-alcoholic beverages index. Likewise, the increase in transport cost picked up to 2.2 percent from 2.4 percent a month ago.
Excluding selected food and energy items, core inflation rose to 3.1 percent from 2.6 percent in the previous month.
On a monthly basis, consumer prices gained 0.8 percent after rising 0.2 percent in November.
Headline inflation for 2019 halved to 2.5 percent from 5.2 percent in 2018. At the same time, core inflation was 3.2 percent versus 4.2 percent in 2018.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2149424/
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