Philippine inflation slows to 3% in January

Philippine inflation slowed to 3% in January, marking the fifth consecutive month of decline.

Using rebased 2018 prices, this rate is lower than December's 3.2%, continuing a downward trend since August's peak of 4.4%.

The slowdown was primarily due to reduced annual increases in housing and utilities costs, as well as decreases in other categories like health services and education.

PSA National Statistician Dennis Mapa noted the easing inflation is positive news, though core inflation figures excluding volatile food and oil items are yet to be released.