RP inflation at 3.6% in April

RP inflation at 3.6% in April

MANILA: Philippine consumer prices rose 3.6 percent in April from a year earlier, a rate unchanged from the previous month, the National Statistics Office said Monday.

A sharp increase in fuel, electricity and water rates was offset by a slowdown in rises for food, beverages and tobacco as well as clothing, it said.

Inflation in the year to April averaged 3.6 percent.

The inflation rate in Metropolitan Manila for April fell slightly to 4.9 percent from 5.1 percent the previous month, while the rate in rural areas outside the capital rose to 3.1 percent from 3.0 percent in March.

Central bank governor Rafael Buenaventura said the government was still on track to meet its five to six percent inflation target for the whole year compared to 6.1 percent in 2001. -- AFP