Inflation surges to four-year high of 4.5% in April

May 4, 2018

The Philippines' inflation rate rose to a four-year high of 4.5 percent in April from 4.3 percent in March, the Philippine Statistics Authority (PSA) said Friday. On a year-ago basis, April inflation was at 3.2 percent. Using 2012 as the base year, the inflation is the highest since 4.2 percent in July and August 2014. Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr told ANC in an interview that the central bank "will take a hard look" at the figures when it meets next week as it is in the high side of their target. He did not say if the BSP will be raising policy rates as inflation had risen for the fifth straight month. The PSA said the increase due to 22 percent hike in the alcoholic beverages and tobacco groups, transport ( 5.8 percent), restaurant and miscellaneous goods and services (4.9 percent) and housing, water, electricity, gas, and other fuels (4.7 percent). DMS