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Philippine inflation rate eases to 10.4 pc. in Dec.

MANILA, Jan. 6 Kyodo The Philippines' year-on-year inflation rate eased to 10.4% in December from 11.1% in November, bringing the average inflation rate for 1998 to 9.7%, the National Statistics Office said Wednesday. The office said all commodity groups recorded lower inflation rates in December, with the rate for food, beverages, and tobacco slowing down to 11.2% from 12.2%. Analysts attributed the lower inflation rate in December to the easing of food shortages experienced in October and November due to typhoons, and to lower fuel prices in December. In Metropolitan Manila, the inflation rates for food slowed to 10.8% from 12.4% in November. For areas outside the metropolitan area, the inflation rate for food slowed to 11.6% from 12.3% in November. Only the inflation rate for fuel, light and water posted a 0.4% increase, the office said.
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Publication:Asian Economic News
Date:Jan 11, 1999
Words:147
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