Inflation drops further to 2.8% in January 2024

  • 6 months ago
Prices of goods accelerate at a slower pace for the fourth straight month in January, as food prices continue to stabilize. The Philippine Statistics Authority reports the inflation rate in January 2024 eased further to 2.8%.

Full story: https://www.rappler.com/business/inflation-rate-philippines-january-2024/
Transcript
00:00 Prices of goods accelerate at a slower pace for the fourth straight month in January
00:05 as food prices continue to stabilize.
00:07 The Philippine Statistics Authority reports the inflation rate in January 2024
00:12 eased further to 2.8%.
00:15 This is well within the government's target range of 2 to 4%.
00:19 The latest figure is lower than the 3.9% posted in December 2023
00:24 and the 8.7% recorded in January 2023.
00:28 The Banco Central ng Pilipinas earlier projected that lower prices of vegetables and sugar
00:33 will contribute to downward price pressures.
00:35 But it also said that higher prices of rice, meat, fruits, and fish
00:39 with increased petroleum prices as well as electricity and water rates
00:43 can drive up inflation.
00:44 (upbeat music)

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