PSA: Inflation hits near 6-year low in April

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PSA: Inflation hits near 6-year low in April - Business Mirror

Quick Summary:

Inflation in April fell to its lowest rate in nearly six years as food and transport prices softened, latest data from the Philippine Statistics Authority (PSA) showed.

Department of Economy, Planning, and Development (Depdev) Undersecretary Rosemarie Edillon said the continued slowdown in inflation suggests that policy interventions are starting to take effect.“We will continue to implement strategies to vigilantly monitor price shocks and proactively temper inflationary pressures,” Edillon said.

It was also the lowest inflation rate since November 2019’s 1.2 percent.