Philippine annual inflation eased for a second consecutive month in March on slower rises in food and transport costs, data showed on Wednesday, supporting the case for the central bank to consider a pause in its monetary tightening cycle.
rose 7.6% in March, the statistics agency said, below an 8.0% forecast in a Reuters poll and marking the slowest pace of price increases in six months.
"While inflation is beginning to slow down, it remains the most pressing issue that the government must monitor and urgently address," Economic Planning Secretary Arsenio Baliscan said in a statement. "The BSP will continue to adjust its monetary policy stance as necessary to prevent the further broadening of price pressures," the BSP said in a statement, calling for "timely and effective" implementation of non-monetary measures to keep prices in check.
"Today's inflation reading could be one additional data point that could convince Governor Medalla that inflation is finally moderating," Mapa told Reuters.
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