05.05.202211:16:00UTC+00Philippine Inflation Highest Since January 2019

Philippine consumer price inflation accelerated sharply for the second straight month in April to the highest level since January 2019, mainly driven by higher costs for food & beverages, transport and utilities, data from the Philippine Statistical Authority showed on Thursday.

The consumer price index climbed 4.9 percent year-on-year in April, faster than a 4.0 percent rise in March. A year ago, inflation was 4.1 percent.

Prices for food and non-alcoholic beverages increased 3.8 percent annually in April. Transport cost surged 13.0 percent and those of utilities grew 6.9 percent.

The food price index rose at a faster pace of 4.0 percent yearly in April, following a 2.8 percent increase in the prior month.

On a monthly basis, consumer prices rose 0.8 percent in April.