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The inflation rate in the Philippines remained steady at 2.9% in January 2025.
The Philippines' inflation rate for January 2025 remained steady at 2.9%, the same as December 2024, staying within the government's target of 2% to 4%. The stable rate was due to increases in food, alcohol, tobacco, and transport costs, which were balanced by slower inflation in housing, clothing, and other sectors. Food inflation rose to 4%, primarily driven by significant price hikes in vegetables, fish, and meat. Despite this, the National Economic and Development Authority (NEDA) emphasized the government's ongoing efforts to stabilize food prices and improve agricultural systems.
The Philippines' inflation rate stayed at 2.9% in January 2025, the same as in December 2024, according to the Philippine Statistics Authority (PSA). This rate is within the government's target range of 2% to 4%. The stability in inflation was influenced by rising prices in certain areas like food, alcoholic beverages, and transport, which were balanced by slower price increases in other categories such as housing and recreation.
Food inflation, in particular, rose to 4%, driven by significant price hikes in vegetables, fish, and meat. The government is focused on lowering food inflation, and efforts are underway to address challenges like potential typhoons and agricultural issues.
The Bangko Sentral ng Pilipinas (BSP) noted that inflation is expected to stay within the target range, with lower rice tariffs and other measures supporting this trend. However, risks like higher transport fares and electricity rates could impact inflation. The government continues to monitor these developments closely.
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