January inflation at 8-month high

January inflation reached an eight-month high of 2.9%, driven by higher food prices due to the Taal eruption and new sin taxes.

Despite reports of hoarding and supply shortages during the Taal eruption and novel coronavirus scare, prices of health products like masks, vitamins, medicines, and rubbing alcohol remained stable.

Health product prices rose 2.9% year-on-year while personal care product prices increased by 1.7%, both figures unchanged from December.