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Philippines inflation jumps to 18-month high

Staff Writer |
Consumer inflation in the Philippines accelerated to an 18-month high in September as prices rose for food and utilities.

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The central bank said there was no need to change its monetary policy stance. The consumer price index rose 2.3 percent in September from a year earlier, the fastest pace since March 2015, data from the Philippine Statistics Authority showed.

Core inflation, which strips out volatile food and energy items, also stood at 2.3 percent, its loftiest since April last year.

Bangko Sentral ng Pilipinas Governor Amando Tetangco said the latest inflation data was within the forecast range and is consistent with the central bank’s expectation that it will slowly edge up towards the government’s target range of 2-4 percent over the policy horizon.

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