Philippine inflation rate eases to 2.7pc in Dec

MANILA, Jan 6 (Xinhua): The Philippine Statistics Authority reported on Tuesday the country's inflation rate eased to 2.7 per cent in December from 3.7 per cent in November.
Without food and oil prices, core inflation also went down to 2. 3 per cent last month from 2.7 per cent in November.
The December inflation rate brought the full-year average to 4. 1 per cent, well-within the three to five per cent target range. This marks the sixth consecutive year inflation fell within the target range, Philippine central bank governor Amando M. Tetangco, Jr. said.
"The significant decline in international oil prices is a dampener on domestic inflation as this has led to lower domestic pump prices, lower transport costs, and lower prices of some imported commodities. However, we are watchful of reversals in this trend," he said.