Slowing inflation gives Philippines hope to dodge rate-hike wave

The central bank “stands ready” to keep accommodative monetary policy while guarding against risks to prices and financial stability, governor Benjamin Diokno said after the data’s release.

MANILA: Philippine inflation was the slowest in a year last month, giving the central bank an opportunity to support growth with record-low interest rates and withstand pressure from a tightening global monetary policy environment.

Consumer prices rose 3.6% from a year ago last month, the statistics agency reported yesterday, the weakest since the same month in 2020 and below the 4.1% median estimate in a Bloomberg survey.