World Economy

Philippine Inflation Rises

Philippine Inflation RisesPhilippine Inflation Rises

Philippine annual inflation accelerated more than expected in December to hit its highest in seven months, the country’s statistics agency said on Tuesday, Xinhua reported. Mainly driven by holiday-related demand in food and beverages as well as fuel prices, headline inflation was 1.5% in December, up from the 1.1% registered in November but down from 2.7% a year earlier, Philippine Statistics Authority reported. Core inflation in December was 2.1% compared with 1.8% the previous month. Higher annual rates were registered in the indices of beverages and tobacco; health; transport; and recreation and culture,” the PSA said in a statement.