The January CPI settled within the 2.5 % to 3.5% forecast range of the Bangko Sentral ng Pilipinas. — Reuters
MANILA: Inflation was steady at 2.9%t in January as a decline in rice prices – a first in more than three years – and slower increase in utility costs curbed typhoon-induced jump in food prices.
Inflation, as measured by the consumer price index (CPI), was unchanged from December’s rate, the Philippine Statistics Authority reported on Wednesday. But the January print was higher than the 2.8% median estimate in an Inquirer poll of economists last week.
