World, Asia - Pacific
Philippines' inflation hits government target amid high fuel prices
Transport prices up 10.3% year-on-year in March, largest contributor of annual inflation in country
Gokhan Ergocun |
05.04.2022 - Update : 05.04.2022
ISTANBUL
The annual inflation rate in the Philippines rose to 4% in March, hitting the government's target for the 2022-2023 period, official figures showed on Tuesday.
The March rate was up from 3% in February.
The largest contributor of the inflation was transport prices, which was up 10.3% last month on a yearly basis due to the increasing fuel prices, according to the Philippine Statistics Authority.
The inflation was 4.8% for alcoholic beverage and tobacco, 2.6% for food and non-alcoholic beverages, and furnishings, household equipment and routine household maintenance.
Among food groups, the highest increase was seen in oils and fats with 9.1%, followed by sugar, confectionery and desserts with 6.2%, and fish and other seafood with 3.6%.
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