According to Philippines' inflation slowed to 8.6% in Feb | Inquirer Business, according to the Philippine Statistics Authority, inflation in the Philippines dropped after increasing for five months in a row, ending up at 8.6% in February 2023 as opposed to 8.7% in January.
Dennis Mapa, the nation's chief statistician, stated that the February slowdown was primarily due to fewer price increases in the group of goods and services used in transportation, which recorded an inflation rate of 9%, down from 11.1 percent in January.
Nine of the other 12 commodity groups tracked by the consumer price index showed greater price growth in February compared to their levels in January.
Food items, particularly vegetables, seafood, and meat, were the main cause of February's price increases.
Housing, utilities, mainly power, rentals, and cooking gas or LPG, as well as transportation, particularly fuel and bus fares, were other significant factors.
The PSA reports that core inflation, which excludes specific food and energy products from the headline inflation, increased to 7.8 percent in February from 7.4 percent in January.
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