Inflation hits 4.7% in February, fastest since Dec 2018

Consumer prices rose to a 26-month high in February, with inflation reaching 4.7%, according to the Philippine Statistics Agency.

This marks an increase from January's rate of 4.2% and is the fastest pace since December 2018.

The uptick reflects higher food prices due to African Swine Fever, rising global oil prices, and weather-related disturbances.

BSP Governor Benjamin Diokno stated that this acceleration appears transitory.